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posted May 31, 2019 8:09:40 PM

Carry over from loss of rental property and now a sale at a loss

We purchased a rental property in 2014 and had a loss in 2014, 2015 which resulted in a carryover.  We had  loss in 2016 as well and finally sold the property.  In total with the loss of 2.5 years and the sale, we will have a total loss of $ 8234... will this be a carry over loss for 2017?

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Employee Tax Expert
May 31, 2019 8:09:42 PM

Yes, the passive loss will carry over until you have passive gains to offset the loss. The capital loss that you cannot claim this year will also carry over to future years as an offset to capital gains.

1 Replies
Employee Tax Expert
May 31, 2019 8:09:42 PM

Yes, the passive loss will carry over until you have passive gains to offset the loss. The capital loss that you cannot claim this year will also carry over to future years as an offset to capital gains.