Is there a MAGI limit/phase out to this? I have a large suspended PAL this year (sod the rental property), am seeing a large "gain" because of asset depreciation every year, and cannot seem to offset the gain with my PAL (TT reports a PAL, but no tax benefit) -- this doesn't seem right: without (or with less) depreciation, landing PAL to near 0, and reducing "gain" tax seems to be lower? Depreciation increasing tax at rental property sales time for high MAGI cases?
