AmyC
Expert Alumni

Investors & landlords

Since there is no limitation in the year sold, no 8582 is needed. In the year the home is sold, all of the losses are used and everything related to the rental house is closed out on your return, all gain and loss come together so the rental is done. This allows you to dispose of your rental records from purchase forward after 3 more years.

 

Reference About Schedule E (Form 1040), Supplemental Income and Loss  & Publication 527 (2020), Residential Rental Property - IRS

 

@jmartineau

@swyman100

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