Your Life

Your Life

Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.

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Posts: 1
Registered: ‎04-11-2018

Business/Real Estate loss

Greetings- I sold a home that I've been renting out for years in 2017. I took a large loss on the sale alone (-69000) even without calculating costs on the home itself. I did take a much smaller loss for the rental income as well. However I made very little money in 2017 so the max refund I can get isn't very much. I'm making good money in 2018. I would prefer to take the loss (or part of it) on next years (2018) taxes. Can I carry it over? Will it do so automatically?