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Investors & landlords
Generally, passive losses can only be used to offset passive income.
Suspended passive losses can be used to offset passive income from the same or similar activity (i.e., rental activities). Suspended passive losses cannot be used to offset other types of income, such as capital gains, until the underlying passive activity is disposed of in a fully taxable transaction to an unrelated third party.
March 13, 2023
7:15 AM
6,697 Views