I sold my vacation rental in 2018 which had Suspended PAL. After expenses/gains from the sale, I have a net 1040 loss. Can I carry back/fwd to offset income or cap gain?

posted

Connect with an expert

1 Reply

An NOL can no longer be carried back ... it can only be carried forward.

Still have questions?

Questions are answered within a few hours on average.

*Must create login to post

Unlock tailored help options in your account.