MarvinE
Level 2
03-04-2023
02:48 PM
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For last 20 years, TP has unallowed passive losses on a rent house that has now grown to $30,000 of unallowed losses.. TP sells the rent house in 2022 and the only reason he has a profit is that he has fully depreciated the property while it was owned. How can we take advantage of the prior unallowed passive losses on this rent house in the current year of sale of the house?
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