I believe up to a $25k Schedule E loss carries to the 1040 if income is below $100k, and 50% is allowed between $100k and $150k. Wasn’t 2008’s income $90k?
I am a CPA with a couple of long held rentals on my Schedule E with a tiny loss that I don’t get to write off due to income. I’m rusty on the tax stuff, in fact I avoid it, so best to verify with a CPA who knows more than I.
To 2008, I say run a spreadsheet on it, get it confirmed by an accountant. If you use tax software (TurboTax, etc) run some estimates through the schedule E and see how it plays to the bottom line.
