long term carryover loss to offset depreciation recapture

[Mohammed Quadeer]

- Purchased strip mall in 3/2003 in Chicago, IL for  $4,800K
- Sold it in 11/2017 for  $4,660K
- Closing costs for purchase/sale  $600K
- Capital improvements  $300K
- Total depreciation claimed over the years  $2,300K
- Has long term carryover loss  $550K

Questions:
- How much is the depreciation recapture, if any?
- How much is the capital gain, if any?
- How much is the capital loss, if any?
- How much is the ordinary taxable income, if any?
- How much carryover loss could offset depreciation recapture?
- How much carryover loss could offset capital gain?
- How much carryover loss could offset capital loss?
- How much carryover loss could offset ordinary taxable income?
- Going forward how much carryover loss would for future use?
- Basically how much is the tax liability of this sale?

[John Woodrich]

Originally posted by @Mohammed Quadeer:

The critical question is:  Could long term carryover loss offset depreciation recapture after sale of investment property at loss?

"Long tern carryover loss" doesn't tell us what it is.  I assume you are talking a long term capital loss carryover and if so, NO, it will not offset depreciation recapture.  You will be stuck with the $3k per year until you have a capital gain to offset it.  

You have a lot of money involved - pay someone for advice.  You aren't going to find a good CPA on here giving out free tax calculations 3 weeks before the tax deadline.