Hmm.. OK. I think we are talking about different things now? Is suspended PALs basically the PAL carried over from the old/relinquished property to the new one? The word "suspended" is always confusing to me because the losses were not actually suspended right? It actually goes into the new property and continues to be treated as PAL?
There's actually only 1 8582 worksheet, but there were 2 lines last year. I want to eliminate this and make them a single line. Same thing with Sch. E. I want to eliminate the blank column (the relinquished property).
The PAL carryover practically now *should* belong to the new property we acquired in that 1031 exchange because that's the whole idea of the exchange, right, ie. the gain and loss are carried from old to new property.
