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Investors & landlords
@AmyC Thanks so much for the reply. So to be clear there are a couple issues I need to reconcile.
1. I have TWO condos as rental properties. I sold only ONE of them, however TT is using the passive loss carryover amount of the combined condos as a real estate loss and pulling into 1040
2. to be super clear....in the year I sell a property, I am able to claim all passive losses against my AGI as an "Other Income" schedule 1 loss??
What I need first is to figure out how to separate the two condos so that only the loss from condo 1 is used if #2 above is correct.
Thanks!!
‎April 13, 2022
11:02 AM