Carl
Level 15

Investors & landlords

Thanks for the clarification. Now I have a better understanding of just why your carry over losses aren't there. Since you sold the property in 2020, there are no carry over losses. You get to realize all those losses in the tax year you sell. Most likely, those losses did not exceed the gain on the sale and therefore actually reduced the taxability of that gain, and probably some of the recaptured depreciation also.