@reluctant-taxman wrote:
If we have passive loss carryover because of income exceeding those limits, then sell the rental property in a year where we also have such income, will we be able to finally use that carryover?
In the year you dispose of your rental property to an unrelated third party in a fully taxable transaction, all suspended passive activity losses are released and available to offset other income.
In the above scenario, your AGI is irrelevant and it is possible to have an NOL based upon the release of the suspended losses.
