Investors & landlords

@Anonymous_ @AmyC 

 

For passive loss carryover, TT automatically deducted it from the relinquished property A, so I did not move it to the new acquired property B. 

 

For relinquished property A :

Passive loss carryover from 2021 : -10,000

Deductible rental real estate loss (line 22 in schedule E for 2022): -10,000(passive loss carryover from 2021) + -200 (2022 loss)

 

Looks like TT allows the complete passive loss carryover to be deducted in the year of trade/exchange.

 

Hopefully this is correct?

If this is not correct, how would I fix this?