Passive activity losses- in a year where i sell the rental property

Last year i lost $4770 on my rental property but I wasn't allowed to deduct any of it.  this year I lost abou t$4000 (rent less than mortgage) but I also sold the property at a 1k loss (came to closing with 1k).  Will I be able to deduct any of the losses this year if my AGI is around 183k?
    Yes, the suspended loss carried over from previous tax years can be fully deducted for the property you sold without regard to the $25K cap on the net passive loss allowance regardless of your income.

    Since you only had to bring $1K to the settlement table, you might not have a capital loss.  Your taxable profit is determined by subtracting your adjusted cost basis from your net sale proceeds.  If there is a positive result, then you have unrecaptured depreciation and maybe capital gain due to appreciation that will be taxed.
    • There is also the question of recapture of the depreciation claimed or allowed in prior rental year, hope turbo tax will allow for figuring  this out for the cost basis.
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