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Investors & landlords
Ah, I see what your saying that it isn't offsetting the depreciation recapture per se. Thank you for that answer @ColeenD3 .
To follow-up and clarify - So even though the only activity flowing through my return this year are income from wages and the $36,000 depreciation recapture, it is still OK to deduct the full $20,000 of PAL against my total income in the current year (year of sale)? (Even if I do not have any other Passive activity gains)
March 17, 2021
11:18 AM