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Updated about 2 years ago, 11/12/2022
Using prior Capital losses against this year’s profit
I have a few properties that have carried capital losses (i was not able to take a loss because i am not a real estate professional and I make to much other income)
I am now starting to realize gains on these properties… so am i able to take those carried losses against my current profits? Or do i have to wait until I sell to realize those losses on the final sale?
Thanks in advance!