dhensley wrote:

- quote -

My understanding is that you can use passive losses from
one property to offset passive gains from another, but
not to offset disposition gains. For reasons, ask your
Congressman.

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I have two income properties each with passive (suspended)
losses. If I sell one property and generate large taxable
capital gains, may I use the losses from BOTH properties to
offset my capital gains on the sold property? My tax
software wants to use only the suspended losses from the
sold property. I generate taxable income from one property,
the software does allow the use of losses from the other
property. Why can't I use passive losses from any property
to offset disposition gains from like kind property??

Thanks.

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