L. T. Portella wrote:

- quote -

Can You? That implies a choice.

You MUST.

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"L. T. Portella" <portella[at]NOSPAMoptonline.net> wrote:

- quote -

Yes! Your capital loss carryforward will be used to offset
any capital gain on the investment property.

***The information provided in this post is provided for
educational purposes only with the understanding that the
author is not herein engaged in rendering legal, accounting,
tax, or other professional advice and services. ***

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"L. T. Portella" <portella[at]NOSPAMoptonline.net> wrote:

- quote -

Yes! Your capital loss carryforward will be used to offset
any capital gain on the investment property.

***The information provided in this post is provided for
educational purposes only with the understanding that the
author is not herein engaged in rendering legal, accounting,
tax, or other professional advice and services. ***

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"L. T. Portella" <portella[at]NOSPAMoptonline.net> wrote:

- quote -

Generally, yes. But you need to read the rules on section
1250 depreciation recapture and make sure your depreciation
method was done on a straight-line method while you held the
property.

Mike Lewis, CPA

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Absolutely. Sch D losses are about the only place where I
say "good" when I find them.

Nan, EA in LA

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This year I believe I will sell a house (investment property
and not my home) and will realize a capital gain. Can I
offset that gain against carryover capital loss that I
incurred a couple of years ago and which I have been
deducting at 3,000. annually?

Thank you

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