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Investors & landlords
Yes, that is allowed. In fact, short term losses (including carry over) are applied against depreciation recapture, as well as the long term gain. TurboTax will handle that automatically on schedule D.
I assume you have been using some of the loss from 2000 on each subsequent year return and $121,200 is the carry forward amount from 2016.
‎June 6, 2019
8:06 AM