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Level 2
March 29, 2021
Question

rental property sales

  • March 29, 2021
  • 3 replies
  • 19 views
Can I write off prior years losses against a profit of a sale of a rental property in PA?
    This topic has been closed for replies.

    3 replies

    sjrcpa
    Level 15
    March 29, 2021

    On the federal return yes. On PA no.

    The more I know the more I don’t know.
    Ed452Author
    Level 2
    March 29, 2021
    Sadly, thank you....
    Level 10
    March 29, 2021

    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.