Theresa59
Level 1
12-07-2019
09:44 AM
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My property has prior year unallowed losses for rental real estate which I have input as described. However, after disposition, form 8582 still shows a suspended loss.
It should be zero as a carryforward suspended loss and taken in current year.
How do I correct?
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TaxGuyBill
Level 15
12-07-2019
09:44 AM
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On the Schedule E worksheet, check box "H" to indicate that it was sold in a fully taxable transaction. That will release the passive losses.
