I have sold one of my 3 rental properties in 2018 (did not attempt to rent for 2018, straight going for sell, and it was sold in March 2018). This property was placed for rental in late 2015. For 2016, I have passive loss allowed. However, for 2017 and 2018, I am not allowed to take passive rental loss, therefore I have accumulated suspended passive loss.
So, I assume since I've sold the property in 2018, I can deduct my suspended passive rental loss. However, I still need to report all the depreciation (2016,2017,2018) as a form of depreciation recapture. The amount should be treated as regular income? If so, where should I enter it at TT?
Many thanks.
