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Investors & landlords
I'm sorry I didn't explain the situation better. The capital gain is a result of the disposition of a business within the partnership. The passive losses, including past passive losses carried forward, are only those attributed to the business that was disposed of through a sale. The tax pro I consulted said that these passive losses are deductible against the specific capital gain of the sold business.
‎November 19, 2020
8:11 PM