Taxes and Tax Preparation
Personal and Payday Loans
Can you borrow of f your taxes fo r next year?
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Can you carryforward a 25000 rental loss to next year and then offset total 50000 next year?
Within certain restrictions, presuming you have enough income to allow using all that loss, yes, of course. A business Net operating loss is carryforwarded fo 20 years, and usable against income in those years. I do not understand how you would expect to have a 25K loss next year AND income to offset the existing 25K carryforward with though. It would seem you wold just be generating a new 25K loss, to be carried for the next 20 years, until used against income.