MaryK4
Employee Tax Expert

Investors & landlords

If you did  a Like-Kind exchange, the passive loss carryovers apply to the exchange property so you will not be able to recoup the loss until there is a complete disposition of the asset.  You will be able to add the cost of the renovations to  your basis of the property before the exchange.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post