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ralmmm
New Member

Passive activity real estate losses

I sold a rental property this year and I have a suspended passive loss for that property.  It does not appear that the SPL is being recognized for this tax year.  Where does that loss get recognized ?  I understand that the SPL should reduce my taxes in the year that the property was sold.

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1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

Passive activity real estate losses

You may not be able to differentiate a normal rental loss from a loss reported on Schedule 1, Line 17. The PAL will not be identfied specifically, it will be lumped in with any other rental loss. Check your actual Schedule E. The PAL will show there on Line 22, transferred over from Form 8582.

https://ttlc.intuit.com/replies/6180635

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4 Replies

Passive activity real estate losses

It should show up on Schedule 1, Line 17.
Coleen3
Intuit Alumni

Passive activity real estate losses

You may not be able to differentiate a normal rental loss from a loss reported on Schedule 1, Line 17. The PAL will not be identfied specifically, it will be lumped in with any other rental loss. Check your actual Schedule E. The PAL will show there on Line 22, transferred over from Form 8582.

https://ttlc.intuit.com/replies/6180635

Passive activity real estate losses

More complete answer than mine.
MANDRUMS
Returning Member

Passive activity real estate losses

Similar situation ..TurboTax Deluxe...   Have property that accumulated suspended passive losses while a rental from 1992 until 2011 at which time it was converted to personal use (no deductions but real estate tax and no schedule E needed) and disposed thru sale in 2019.....so now I have disposed of the property and have capital gains and depreciation recapture and cannot figure out where to deduct these suspended passive losses that I can claim as I have disposed of the property !  Any clues ?  Thanks

   

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