Accountant-Man
Level 12

Mark, you will still have a problem at the 1040 level, if you have a net loss before a sale. Unless the sale of one(or more) properties in a particular year has more gain than all of the combined suspended losses, you will not be able to use much of the losses until all properties are sold.

IE, properties A, B, and C have suspended losses of $100k. You sell A for a gain of $10k. Losses usable in year of sale are 10k against 10k of gain. Net gain/loss will be $0. Suspended losses will be 90.

If instead you kept them separate, and they each had $33k of loss, and you sold A for $10 gain, the 33 losses in A would no longer be passive and all used in year of sale. Net gain/loss will be (23).  Suspended losses will be 67.

** I'm still a champion... of the world! Even without The Lounge.