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Updated 15 days ago, 11/12/2024

User Stats

56
Posts
24
Votes
Sattir Bitti
24
Votes |
56
Posts

Passive Activity Loss to offset gain on sale of another rental property

Sattir Bitti
Posted

Hi,

I'm in the process of selling one of the properties that has decent equity. I have suspended Passive Activity loss that would reduce the gain, but not eliminate the gain from tax POV. I have another rental property that has suspended Passive Activity loss (that I decided to hold), can I use one property PAL to offset gain on sale for another? 

I have listed all properties under different activities in the Tax return.

Thanks

Sattir

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