Four Ways to Turn Suspended Losses into Real Tax Savings

If you’ve owned rental property for years, you may have tax deductions waiting to be claimed.

The challenge is knowing how—and when—to unlock them.

Here are three reasons to read this article:

Suspended passive losses aren’t gone forever. With the right strategy, they can be released to offset ordinary income and reduce your tax bill.
One wrong move—such as selling to a family member or giving the property away—can delay or even eliminate valuable tax deductions.
Tax Tip: Even after you free your suspended losses, a new permanent excess business loss limitation can delay part of your deduction. Careful planning before you sell may help you maximize the tax benefit.