dodahman
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So the only way to handle this is create a rental home (even though it wasn't rented that year) and then sell it to claim all the previous years' PAL?
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Can you just adjust your cost basis in the home sale section by the amount of passive loss carryover you have for previous years?
Activity Feed for dodahman
- Posted Re: Passive loss carryover on property converted from rental to Primary residence then sold on Investors & landlords. May 5, 2021 1:15 PM
- Posted Re: Passive loss carryover on property converted from rental to Primary residence then sold on Investors & landlords. May 4, 2021 9:15 AM