Can the Gain on Sale of One Rental Be Offset With Suspended Passive Losses? [Tax Smart Daily 031]

Item: Hall CPA PLLC
Rating: 5
Author: Mike Dymski - Business Owner

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In this video, Brandon explains how your rental sales can be offset by suspended passive losses from other rental activities.

Listen in to learn about:

Finding your suspended passive losses on Form 8582
Passive losses from other passive activities offsetting rental sales
A common mistake that tax advisors make

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★★★★★

Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

Mike Dymski - Business Owner

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