<conyers_roger[at]yahoo.com> wrote:

- quote -

I think the PAL only get released when you sell the
property.

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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Two years ago, while owning a single-family residence
(Property A), I purchased a property which I intended to use
as a rental (Property B). I incurred extensive repair
bills, but due to the $25,000 passive loss limitations, so
far I've been able to deduct only 2/3 of those repair
expenses.

Last year, due to my employment situation, I decided to move
into Property B and make it my primary residence. I also
converted Property A into a rental.

Since I would not be able to deduct any Property B carryover
repair expenses -- Property B no longer qualifies as a
rental -- would it be possible to deduct these carryover
expenses under Property A?

Thanks in advance for your answers.
Roger

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >