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March 16, 2021
Question

I sold a rental property for a gain but when I enter the numbers Sales price/sales expenses turbo tax tells me I had a loss???

  • March 16, 2021
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March 16, 2021

If you had a passive loss carryover,  you may deduct in full any previously disallowed passive activity loss in the year you dispose of your entire interest in the activity.

See Topic No. 425 Passive Activities – Losses.