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I sold a rental property this year with passive activity loss carryover (albeit using a 1031 exchange) . Am I able to claim these losses since it sold?
I also made major improvements to the property this year to help it sell. If I can't recoup my passive activity losses, would it help to capitalize those improvements? Since it is a 1031, I assume the answer is no.
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March 15, 2021
11:30 AM