I can't get a straight answer...

[Pat Goodyear]

I have 16 rental properties. I have one under contract now. My basis is $78k and my sale price is $190k. My carry-over passive losses are $147K from all the 16 properties. My MAGI is >$100K; so I am having carry-over passive losses every year. I am not a REP. Provided I don't want to do a 1031; can I use my carry over passive losses to off-set my capital gains? depreciation recapture?

Can someone explain how the syndication process works? I am an accredited investor. I understand the bonus depreciation and cost seg. I have found IRS rules that say I have to dispose of the entire activity to utilize the carry over losses. (ie. sell all my rentals) Thus, I don't understand how K-1 syndication loss offsets passive gain from a different syndicate sale.

[Greg Scott]

Yes, all depreciation you haven't been able to use in prior years should be able to offset passive income in the current year.

I'm invested in numerous syndications.  The K1 losses from a property offset cash flow from that property.  Excess losses from that property can be used to offset passive losses on other properties.  This is equivalent to the situation on your SF properties.