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Deductions & credits
I understand that all property PAL is released. Can you clarify if:
1) PAL from property B can be used to offset property A capital gains?
2) If answer to 1 is Yes, do I have a choice as to how much I can apply of the property B PAL or must I apply all of it?
What is the IRS rules and regulations in this regard? Can you tell me which IRS regulations are applicable here?
‎April 20, 2022
7:09 AM