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Investors & landlords
You CAN use the Passive Loss Carryovers, even when using the §121 exclusion. The §121 exclusion is NOT considered as a non-recognition event, and therefore the sale is still considered as a "fully taxable transaction".
https://www.irs.gov/pub/irs-wd/[social security number removed].pdf
March 7, 2021
9:40 AM