sjrcpa
Level 15
03-23-2022
10:57 AM
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Over $150K no $25K exception to the PAL rules. If there is a complete disposition in a taxable transaction suspended PALs associated with that activity are deductible. Basic IRC Section 469.
Did you actually look at the 8582 and its worksheets? And the instructions?
Since you don't know this you definitely should.
The more I know the more I don’t know.