Hi Abraham T:
If as you said, rental property sale is considered as passive activity, does it mean the gain from the rental property sale is considered as passive gain and can be offset by passive loss?
If so, the next question in the year when the rental property is sold, if you have suspended passive losses carryover from other real estate partnerships (different investments from this rental property and these different passive real estate investments have not been sold), can you use these suspended passive losses to offset the gain from this rental property sale? Shouldn't the answer be no?
