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Investors & landlords
I have suspended passive losses from a rental property. Last year I did not rent the property as I put it up for sale and it was sold last year. I want to claim the suspended passive losses now that the all my interest in the property has been sold to an unrelated party. However, when I tell TurboTax that I did not rent the property in 2020, it removes Schedule E. Schedule E is where I would have entered the suspended passive losses. Under these circumstances, where do I enter past year suspended passive losses? Or is there a way to suppress the depreciation calculation so I can continue to use Schedule E?
March 5, 2021
10:43 AM