Requirement to take rental loss on vacation home?

Mar 16, 2011 20 Replies

Death: Unused expenses and deprecation are lost.

Even without 280A, accumulated deprecation is wiped out anyway. The basis is reset per sections 1015ff.

Other things regarding death:

- Capital losses are lost (there's a revenue ruling saying this).

- Passive losses come out (death is a full disposition of an interest in the activity).

- Unrecovered basis in a pension without a surivivor option is an itemized deduction. That doesn't apply to IRAs as they continue beyond death.

I don't recall what happens to an NOL carryforward.

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