Annie Jaffrey. https://www.youtube.com/user/AnnieJaffrey. I love her. She's become one of my favorite gurus she's very sweet and very genuine. She covers a lot of topics from weight loss to the usual.
You cannot deduct passive losses if you do not have any net income from your property rental for the tax year. Passive losses cannot reduce your income from wages, but you can defer the losses to future tax years or deduct any losses carried forward when selling the rental house that generated the loss.
Income and losses from the following activities would generally be passive: 1  Equipment leasing. 2  Rental real estate (with some exceptions) 3  Sole proprietorship or farm in which the taxpayer does not materially participate. 4  Limited partnerships with some exceptions.