Thanks to everyone who answered on this post!
As I go through filing taxes, I am discovering something strange - the loss on the property sale appears to be offsetting W2 income! I want to make sure I am capturing this sale in the correct place. Specifically, the property was rented out during the years 2014-2017 (four years). It then sat idle until 2022. I marked it as a "Sale of Business Property". Did I do the right thing?
Apparently this is a Section 1231 loss based on this Turbotax article. Still puzzled because I expected only an offset of 3000 more than my 2022 capital gains with the remaining loss carried forward to 2023+. Seeing the loss offset income doesn't "feel" right.
