Investors & landlords

Hi Mike, thank you for your reply!

 

I didn't know about "sold a property that frees up any suspended passive losses". The -$26858 loss was from year 2022 and combined from several rentals. The gains of $19018 was from two different rentals.

 

Does that mean I can sell property A for a gain and activate the suspended losses produced by properties B, C, and D...?

 

So the Turbo tax software is filling out the forms correctly? I was worried because I always though rental loss is passive and can not offset active income.

Thank you!