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Updated almost 9 years ago,
Use of accumulated passive activity loss
Hello,
Is it possible to apply accumulated passive activity loss from prior years' (Real Estate) to a current year if the income from that years real estate activity is less than the income generated by the Real Estate (as an Active RE professional) in the current year?
There is significant Non-RE income in the current year.
So essentially, are use of the the prior years passive activity losses limited by:
1. The income of the RE income in the current year
2. The combined income of the RE income and retirement income in the current year
3. The combined income of the RE income and ALL other income in the current year
Recommendations for how to recapture the passive activity losses?
Thanks