Recouping losses when MAGI over 150k I've owned a rental property since 2005. My MAGI has never allowed me to take any losses so I have a loss carry forward in 2015 of 125k. The depreciation taken on the house is 75k.
If I gift this house to someone, can I now deducted my rental loss carry forward on my 2015 taxes against my ordinary income? If not, when or how can I use this?
Thanks |