As I mentioned earlier, I have 3 rentals.
Rental 1 (not sold) has $50K carryover passive losses.
Rental 2 (not sold) has $0 carryover passive losses.
Rental 3 (sold in 2018) had $160K carryover losses).
Schedule E line 26 equals $160K + $50K= $210K
Schedule 1 line 17 equals $210,000
So, the question is, if I sell Rental 1 in 2019, I will not have any passive carryover losses to offset my ordinary income?
And, one more question - what is 8582 worksheet 1 col. (d) is good for by showing "OVERALL GAIN or LOSS"? I don't see that calculated value reflecting basis by taking into consideration carryover losses, used anywhere in the program.
Thank you all for helping me understand how it works.
