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Old 09-17-2015, 03:58 PM
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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



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