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"Can I net my rental losses for all properties & apply to the gain on sale of 1?"
Not really, because your rental losses are considered passive losses which can only be directly offset by passive income. The sale of your one rental property produced capital gain as well as, most likely, unrecaptured Section 1250 gain (depreciation recapture).
Note that there is a special allowance, that can be deducted from nonpassive income, of up to $25,000 (subject to phaseout) of loss from a passive rental real estate activity if you actively participated in the rental activity.
https://www.irs.gov/publications/p925#en_US_2018_publink1000104571
"Can I net my rental losses for all properties & apply to the gain on sale of 1?"
Not really, because your rental losses are considered passive losses which can only be directly offset by passive income. The sale of your one rental property produced capital gain as well as, most likely, unrecaptured Section 1250 gain (depreciation recapture).
Note that there is a special allowance, that can be deducted from nonpassive income, of up to $25,000 (subject to phaseout) of loss from a passive rental real estate activity if you actively participated in the rental activity.
https://www.irs.gov/publications/p925#en_US_2018_publink1000104571
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