Have 2 rental properties shown separately on Schedule E over the years. Sold 1 property this year at a gain. Turbo tax applied previous years loss carryover from this property to offset part of the gain. Turbo tax then took part of the second properties loss carryover to offset the remaining gain on property 1. Does this make sense? I wouldn't think property 2's loss carryover could offset property 1's remaining gain.
