Level 9
04-10-2024
11:20 PM
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That is correct Taxes---Taxes---Taxes. One more taxes gets you nothing (sorry) except one more taxes. Any passive income even if from S-Corp or other will release any other carryforward passive losses. Capital Gains are not necessarily passive but they are when they arise from sale of passive property. So yes, that extra gain is used to offset other properties passive losses.