Hello JA Customer,
Your passive losses from a real estate investment cannot be claimed at all if your income exceeds $150,000 AGI. You will, however, carry forward those losses to use either on future years returns where you may be in an eligible income bracket to claim the losses, or you will claim the losses in the year you sell the rental property.
In the meantime, the losses cannot be used to offset your mortgage interest income or any other type of income you have for the year.
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Thank you JA Customer