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Get your taxes done using TurboTax
Yes- and IRS Reg Sec. 1.469-2T(c)(2)(i)(A) says the disposition of an activity is passive activity income- check it out. Very clear. This was disposition of rental real estate and under IRC 1231 is treated as capital gain. Under 1.469-2T(c) this gain is passive income.
someone wanted an explicit cite to authority- there you have it…
May 11, 2023
1:18 PM