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bpbirdsall
New Member

Selling rental home to son at a capital gain to me. Can I use PAL to offset gain?

 
1 Best answer

Accepted Solutions
TaxGuyBill
Level 9

Selling rental home to son at a capital gain to me. Can I use PAL to offset gain?

No, a Related Party sale does not release Passive Loss Carryovers.

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3 Replies
SweetieJean
Level 15

Selling rental home to son at a capital gain to me. Can I use PAL to offset gain?

TaxGuyBill
Level 9

Selling rental home to son at a capital gain to me. Can I use PAL to offset gain?

No, a Related Party sale does not release Passive Loss Carryovers.

View solution in original post

SweetieJean
Level 15

Selling rental home to son at a capital gain to me. Can I use PAL to offset gain?

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