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Investors & landlords
Your rental loss is a passive loss and as such is not normally allowable against capital gains but you are allowed to do this in the year you sell the property. As @Mike9241 said, the gain might not have been sufficient to absorb all of the losses. You should see the capital gain included on line 1(a) of form 8582 and the losses on line 1(b) and 1(c).
[Edited 3/14/22 at 12:45 PM EST]
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March 14, 2022
12:02 PM