Investors & landlords

Based on the facts, TT appears to be handling this correctly.

Since your gain on the real estate is ST, this is treated as an ordinary gain; not capital.

For C corporations, capital losses can only offset capital gains.  Any excess CL is carried back 3 years and then forward 5.

 

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.