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selling investment property tax issue
Old 05-04-2012, 05:46 PM   #1
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selling investment property tax issue

I have one rental house that if I sell it will have a cap gain of about 100k.I sold my other one 2 years ago at a loss of about 100k.Can I use the loss to balance out the gainThanks in advance.

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Old 05-04-2012, 07:15 PM   #2
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Check with your tax adviser, but I think no.

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Old 05-04-2012, 10:55 PM   #3
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Depends. If any of the loss is being carried as a passive carryover, then possibly. Best to talk to a tax expert since every situation will be different.
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Old 05-05-2012, 05:14 AM   #4
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Seems like you should be able to. If you can't, there outta be a law...
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Old 05-05-2012, 06:47 AM   #5
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You probably want to check w/ IRS pubs to verify but here's an interesting article: Tax Breaks for Losses on Rental Property Sales -

What did you do w/ the loss from your other property? Sounds like from the article that you could have taken the loss against all other income which I didn't realize.

Other articles here:

Did you take into account that depreciation had lowered your cost basis and that there might be recapture of that depreciation?

also useful...p28/29 here

also the Capital Gains sub-forum at
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Old 05-07-2012, 11:37 PM   #6
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Don't forget of the ugly thing called depreciation recapture

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