Diane in MT
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Just to confirm: The passive loss is showing in Part VII column C "unallowed loss" of form 8582 . This will be an "allowed" offset to taxable sale in 2023?
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Well that makes sense now. Can we use this carryover passive loss against sales proceeds is 2023? The entire property is being sold later this year.
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Thank you for this. It is a passive loss, but shouldn't TT take into account the special $25K allowance and allow the loss against non-passive incomer? My hubby...
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There is no loss showing on the 1040. It just shows on the 8852 as an unallowed loss.
Activity Feed for Diane in MT
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- Posted Re: K-1 Loss Rental Property on Deductions & credits. March 22, 2023 9:21 AM
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- Posted K-1 Loss Rental Property on Deductions & credits. March 18, 2023 9:04 AM
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