In 2012, I stopped renting the condo. From 2012 to 2022, I used it as a vacation property only (like a 2nd home). Then in 2023, I sold the property at a loss. From the material I read, I could not claim any losses on a vacation home sale.
I purchased TurboTax protection and my 2023 tax returns have been uploaded to TurboTax if you want to take a look.
Under this scenerio:
- Should I have increased the PAL when I sold the vacation property in 2023?
- Can I use the use the PAL in 2024 then?
