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Diane Tycangco
26
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120
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Passive Loss Carryover and Disallowed Losses & Accountant Recommendation

Diane Tycangco
Posted

Hello everyone, I am selling an apartment building in California using a 1031 exchange (to buy property in the Midwest) and am wondering if I can use my passive loss carryovers and disallowed losses for that property to offset any boot because I am planning to use the cash pullout as reserves or repair money for when the replacement property is vacant.  Also, can anyone recommend a solid accountant for everyday investors who can provide reliable advice and is reasonably priced?

Thank you!