Can I claim rental loss in PA? - Posted by Carlos

Posted by Nate(DC) on March 10, 2003 at 17:38:11:

I answered this question less than a week ago.

If a unit is vacant, your “loss” is the fact that you are claiming no rental income for that time period. There isn’t an ADDITIONAL “loss” beyond that. That’s true ANYWHERE. Net income is defined as income minus expenses. If net income is less than zero it is called net loss. A vacant unit, for tax accounting purposes, decreases income. It does not also increase expenses merely by being vacant.

Does that answer your question?


Can I claim rental loss in PA? - Posted by Carlos

Posted by Carlos on March 10, 2003 at 14:27:30:

Not sure if I am asking this correctly, but - Can I claim rental loss in PA? We just got our tax stuff back from our accountant and while going over it with him, he told my wife and I that in PA. we can show a loss due to a vacancy in a unit, but that it will do us no good because in PA., you can not claim it. Is this true??? Darn if it is!!

This is the first year that we owned any kind of real estate, and one of the units (a triplex which we live in one unit, rent the other two) was vacant for the better part of the year.

I’d love to hear some good new from someone hear, but if not, we’re moving!


in addition… - Posted by David Krulac

Posted by David Krulac on March 11, 2003 at 06:17:43:

to what Nate said, it is correct that on the Pa. incoe tax form losses are not recognized. Additonally they are NOT carried forward. In pa you either have a profit which is taxed or you have zero income which is not taxed there is no provision for a loss.

On the “good” side the Pa tax is flat rated at 2.8%

David Krulac
Central Pennsylvania