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I sold a rental property in which I had previous years loss carryovers due to the loss limitation rules. Can I recover the total carryover since the property has been disposed of?

April 26, 2017Carryovers limitation loss previous Property recover rental rules sold

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I sold a rental property in which I had previous years loss carryovers due to the loss limitation rules. Can I recover the total carryover since the property has been disposed of?

1 Answer

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10 Posted

Yes. Claim the expenses limited for that property in prior years on Form 1040, SCHEDULE E, Supplemental Income and Loss.