Yes, in the future you will be able to use the loss. Since the property is no longer rented and has been converted to personal use it is allowed to be used only against other passive income. You should track your loss and keep the 8582 with your current tax return each year until you do one of three things:
- Sell the property in a fully taxable exchange to an unrelated party, OR
- Convert it back to a rental property
- Use a portion each year against other passive income
If you have no other passive income, the suspended losses remain suspended. Carry them forward until you sell the home in a fully taxable transaction.
You can add a Form 8582 to your tax return if you are using TurboTax Desktop or your choose to convert it from TurboTax Online.
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