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Get your taxes done using TurboTax
I tried replying to your email and it bounced, but here is what I had to say...
No, just the property. The ‘disallowed carryover’ comes from improvements I made to the property in 2018. Since I sold the property in 2019 and did not have any rental income that year, I think I should just zero out the entry in line 24, col 1 and add the disallowed amount to my cost basis in the sale of business asset section. It seems to work, but wondered if there is “correct” way to do this.
March 28, 2020
1:04 PM