We are California residents and have 3 condos in Hawaii one of which we sold in 2019.
We have a capital loss carryover amount as well as passive loss carryover amounts for each of the condos. For the CA return, the gain on the sale reduced our capital loss carryover amount, which we understand. In addition, it also removed large amounts of passive losses from the other two condos and created a negative gross income which we didn't need. So all our losses evaporated.
Is there something that should be done to preserve the passive loss amounts for the 2 condos?
