Where or in the Federal 1040 do I put the Suspended Passive Losses after the sale of a rental property?
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JohnE
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Everything goes on the normal forms the income and/or losses would be reported on. For a sold rental property that would include, at the very least, Schedule E and F-4797. Also, enter the current year's rental income or loss, the gain or loss on the sale, and the carrrover of prior year suspended losses on the worksheets for F-8582. If there is an overall gain in the year of sale, that net gain can be used to release suspended losses of other passive activities.
All of this is explained in the instructions for F-8582.
By the way, your subject title "JohnE" is not helpful. It's better to say a few words that describe the subject of the thread.Roland Slugg
"I do what I can."
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Originally posted by S&D Associates View PostWhere or in the Federal 1040 do I put the Suspended Passive Losses after the sale of a rental property?
They should have been used on the sale. Suspended losses will pass thru form 8582 to the bottom of Sch E (line 22).
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