How do I input deferred capitol gains from an earlier year ...into this years taxes???

Forum|Forum|7 years ago
June 1, 2019
2 replies
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I had rental capitol gains that were not allowed one year due to income limitations....where do I input them into this years taxes????

TurboTax Premier Online

Best answer by

that's not possible unless there was a 1031 exchange or possibly a casualty gain. in these situations the deferred gain would reduce the basis of replacement property and would no longer be relevant.

so you need to explain in detail what happened in the year you had these "deferred" capital gains.if not as described above. capital gains are not subject to limitation due to income high or low.

unfortunately we can not see your returns and don't post any personal information

TomYoung

Alumni - Champ

Sounds to me like you're really referring to passive activity losses that you couldn't use because your AGI was too high. The deferral of capital gains is a pretty rare animal.

Anonymous

Answer

that's not possible unless there was a 1031 exchange or possibly a casualty gain. in these situations the deferred gain would reduce the basis of replacement property and would no longer be relevant.

so you need to explain in detail what happened in the year you had these "deferred" capital gains.if not as described above. capital gains are not subject to limitation due to income high or low.

unfortunately we can not see your returns and don't post any personal information