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Investors & landlords
Understood and that poster also stated:
"....This carryover is NOT a passive loss. Rather, it represents excess deductions that were limited under IRC §280A(c)(5). So, when the property is sold, the excess deductions are not “released” like a suspended passive loss would be released. Rather, it looks to me like those excess deductions are lost forever."
February 7, 2024
9:24 AM