- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Thanks for all of the ideas. It sounds like under no circumstances should I put the house/asset back in. The only way I can think of to account for the passive Loss Carryover would be to adjust the cost basis of the sale. To test, I tried deleting the house/asset for schedule E since it wasn't a rental in 2018 and then put the loss carry forward in as an increase to the cost basis. When it reran the numbers, they came back exactly the same (except for the fed side which was a couple of dollars different likely due to the depreciation it was trying to apply to 2018 since it was forcing a 1% business use entry). Is that an appropriate way to handle the carryover?
‎August 11, 2019
7:08 PM