Ed452
Level 1
03-29-2021
11:01 AM
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Can I write off prior years losses against a profit of a sale of a rental property in PA?
sjrcpa
Level 15
03-29-2021
11:04 AM
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On the federal return yes. On PA no.
The more I know the more I don’t know.
Ed452
Level 1
03-29-2021
11:18 AM
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Sadly, thank you....
jeffmcpa2010
Level 11
03-29-2021
11:57 AM
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If you are talking about form 8582 passive losses carried over because of limitations - yes
If you are talking about losses which were not limited by 8582 and were deducted in prior years, they have already been deducted and cannot be used again.
The above applies to Federal - I have no idea about the PA state returns.