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Investors & landlords
California taxes rental home's capital gains and depreciation recapture as regular income.
What about passive activity loss carryover caused by depreciation? can that be used to offset California AGI in the year of rental home sale? Is the carryover amount same as Federal?
Thanks,
What about passive activity loss carryover caused by depreciation? can that be used to offset California AGI in the year of rental home sale? Is the carryover amount same as Federal?
Thanks,
May 31, 2019
4:51 PM