We bought a property in 2013 at a beach location. We use it on several weekends and a week or so in early summer and rent it out for July and August. Every year, we've had a passive loss on our taxes because our expenses far outweigh what we earn in rent for those 2 months of the year. TurboxTax also prorates our expenses since we use the property a percentage of the year and rent it a percentage of the year. Now we have sold in in 2020. Can I deduct all those annual passive losses we took every year against the sale proceeds? It was not our primary residence and we, in fact, sold our primary residence in 2020 as well.
