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?
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    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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