Further
Not to split hairs here, but I assume that if the client had other passive gains that the passive losses in question could be used as an offset to such. Correct?
OTOH, if this prior rental property is the only such passive activity, it may be some time until the unused losses can be taken when a "qualifying" disposition does occur.
Either way, stop the depreciation meter from running and then face the fact the prior depreciation amounts may lurk around for a l-o-n-g time!
FE
Originally posted by Greenbriar
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OTOH, if this prior rental property is the only such passive activity, it may be some time until the unused losses can be taken when a "qualifying" disposition does occur.
Either way, stop the depreciation meter from running and then face the fact the prior depreciation amounts may lurk around for a l-o-n-g time!
FE
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