When selling 1 of 5 rental properties, are all prior disallowed passive losses released, or only those disallowed losses attributed to the property sold?
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When selling 1 of 5 rental properties, are all prior disallowed passive losses released, or only those disallowed losses attributed to the property sold?
I have 5 rentals, each its own activity for passive income/loss purposes. There are $25,000 in prior year disallowed losses from all 5 combined. I sold 1 of the rentals.
posted
June 3, 20195:26 PM
last updated
June 03, 20195:26 PM
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When selling 1 of 5 rental properties, are all prior disallowed passive losses released, or only those disallowed losses attributed to the property sold?
Only the ones for that rental are released when you sell it.