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Investors & landlords
Tax package support usually provides a "gain/loss calculator" that will show you exactly what your Ordinary Gain and Cap Gain would have been as of the end of the year (just use the "Sell all Units option). It will be one of the icons on their site, possibly hidden by the three dots. That will obviously be off by a little given the time between 12/31/22 and your sale date, but probably not by that much. So between that, and your suspended losses, you can get a pretty good idea of what the tax impact of the sale will be.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
March 27, 2023
11:12 AM