If you accumulated passive losses in the past, and sold the property.
- All of the passive loss would be applied to the sale.
- There would no longer be losses to use or carry forward.
- TurboTax correctly does this automatically.
Please take a look at the IRS topic Passive activities – Losses and credits especially the paragraph labeled Disposition of entire interest
Please contact us again with any additional questions or to provide some additional details.
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