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rental property sales

Ed452
Level 1
Can I write off prior years losses against a profit of a sale of a rental property in PA?
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3 Comments 3
sjrcpa
Level 15

On the federal return yes. On PA no.

The more I know, the more I don't know.
Ed452
Level 1
Sadly, thank you....
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jeffmcpa2010
Level 11

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.

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