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Converted when to personal use the first day of 2017. Have passive losses accumulated. Can those be taken now or must I sell the property before they can be.
I lived in my home for 5 years, converted it to a rental for 5 years but could not take passive losses due to my income level. I retired last year and my income dropped, but I also moved back into the rental the first day of 2017. I have $37K in accrued passive loss carryover. Can I take any of that loss now or must I wait until I sell the home?
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‎June 5, 2019
3:47 PM