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.