For 2018 & 2019 there were NOL's reported and form 8582 was attached to the taxes filed. The property was sold in 2020. I reported the NOL during the question period for Less common Business Situations. My tax amount due was reduced but not at a dollar for dollar rate for the amount of the loss. Question 1 What am I missing as I thought it would be dollar for dollar, (i.e. $30,000 PAL would reduce taxes due by $30,000). The renters moved out 12/31/2019 and we began getting the house ready for sale. There was no form 8582 printed for 2020 as it said it was not a rental property since there was no activity for 2020. Question 2 Do I need to change the way I answered the question or submit manually form 8582 from 2019? Thank you very much in advance.
