Passive Losses at Time of Sale

[Liz Ridgway]

I am reading BP’s Tax Strategies book and I wish I had read it sooner. This should be required reading for anyone who owns RE, even if only a primary residence.

My question pertains to passive losses. Due to the income phase out for claiming passive losses, I have years of carryover. I understand these can be claimed when the property is sold. However, I also read that the sale must represent the sale of all of your investment RE.?

Specifically, I am selling a condo in FL owned since 2007 currently worth about $120k. In 2018, we converted a SFH from our primary residence to an investment property. This home is worth $275k. Does this impact my ability to claim all remaining passive losses from the condo?

Thank you BP!