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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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If I am in a combat zone and pay no tax for the whole year

Resolved Question:

If I am in a combat zone and pay no tax for the whole year and i pay for work to be done on my rental investment property during that year which that work is tax deductible, would i get a credit, it's tax deductible but i didn't pay any taxes
Submitted: 7 years ago.
Category: Tax
Expert:  Merlo replied 7 years ago.
Hello david,

If you actively participate in the management of your rental property, then you may deduct up to $25,000 in any one tax year as rental losses against your other income. In years where you have no income, or in years where your other income exceeds your rental losses, you can carry forward the losses to use in a future year.

If in the year you dispose of the rental property you still have losses that you were unable to use in prior years, you may deduct those losses in the year you sell the property.

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