General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated 15 days ago, 11/12/2024
Passive Activity Loss to offset gain on sale of another rental property
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