Can I push out passive losses to a future year?

[Deb3805]

I have several years of passive losses related to a rental that has accumulated over many years.  I sold that property a couple weeks ago and will have a large capital gain in 2022.  Because my income dropped significantly in 2021 (retired) TT is allowing me to take all those losses.  I would rather take them in 2022 when the capital gain on the sale is going to throw me into the 35% tax bracket.  Is this allowed?

[Anonymous_ · Accepted solution]

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@Deb3805 wrote:

....I would rather take them in 2022 when the capital gain on the sale is going to throw me into the 35% tax bracket. 

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That is understandable, but you cannot defer that loss until a future tax year.

However, the passive losses that were released in 2021 could create an NOL, which you can carry forward to the 2022 tax year.

[RobertB4444]

No.

Unfortunately allowed losses have to be taken in the year they're allowed or they go away.  

This answer from TurboTax is a couple years old but it's still a good one.