All, Have the tax rules changed reguarding the usage of previous years accumulated rental losses being used this year ? Scenario: I have had an IP for many years and have accumulated about $40,000 losses. This year I made a net rental gain of $15,000. I have no wage income. Can I not use these $40,000 previous losses so that this year I make zero gain (and thus no tax) and then carry the remaining $25,000 losses to next year? My accountant has told me that I cannot use the previous years losses as the tax rules have recently changed and I can only use a portion of the previous losses in this years tax return. Comments would be appreciated. Gunnerguy.