edli6789
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Assuming taxpayer is not a real estate professional, doesn't below seem to indicate that the capital gain from this sale can be offset by passive activity losse...
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*full disclosure. Not CPA nor a tax preparer*Probably don't owe taxes. The lifetime exemption amount is $11.7M for a single person and double that being $23.4M ...
Activity Feed for edli6789
- Posted Re: Using passive activity losses in other investments to offset rental property sale gain on Investors & landlords. ‎March 20, 2022 7:28 PM
- Posted Re: Filling out Form 709 on Get your taxes done using TurboTax. ‎February 28, 2022 4:12 PM