{"Term":"Excess deductions","Definition":"\u003cp\u003eExcess deductions, also known as rental losses, are when your allowable deductions exceed the amount of income you earned for a residential property or portfolio in the same tax year.\u003c/p\u003e\n\u003cp\u003eLearn more about which rental property expenses\u0026nbsp;can and cannot be deducted.\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"/property/renting-out-residential-property/residential-rental-income-and-paying-tax-on-it/rental-expense-deductions\" class=\"quick-links-topic\"\u003eRental property expenses\u003c/a\u003e\u003c/p\u003e","TeReoTerm":"","TeReoDefinition":""}