2006 Form Irs
Q.I'm pretty sure I exceeded my pass loss limit of 25k in 2006. What form/line on the IRS do I look at to figure this out on my 2006 return. Will I be able to carry this onto my 2007 Return?
A.Since it sounds like you're dealing with rental property, start with IRS Publication 527. Yes, you can carry unused passive losses forward. See Publication 925 for a discussion of passive losses in general. The Florida intanglible tax is unlikely to be considered an "income" tax because it's assessed annually on the value of the property - that makes it an ad valorem property tax rather than an "income" tax. See also http://www.irs.gov/pub/irs-pdf/f8582.pdf http://www.freewebs.com/topsearched/irsform http://www.freewebs.com/topsearched/irsforms http://www.freewebs.com/topsearched/irsforms http://www.freewebs.com/topsearched/irstaxforms http://www.freewebs.com/topsearched/irstaxforms
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