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Updated almost 2 years ago on . Most recent reply presented by

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Mark Berardi
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Can I use accelerated depreciation on 1 property to offset capital gains on another

Mark Berardi
Posted

    In 2022, I sold a multi-unit property in TN. Also in 2022, I bought a rental property in Ohio. Can I use accelerated depreciation on the new Ohio property to offset the capital gains on the sale of the TN property?

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Basit Siddiqi
  • Accountant
  • New York, NY
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Basit Siddiqi
  • Accountant
  • New York, NY
Replied

Passive losses from rentals can offset passive gains from rentals.

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Basit Siddiqi CPA
4.9 stars
78 Reviews

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