unrealized losses from previous tax years

[Patrick GRibbin]

Just trying to figure out where unrealized losses play into capital gains when an investment property is sold. My wife and I have been over the $150k limit the last few years and have not been able to claim any losses from our investment properties. I did sell one home and have two more owned through an LLC with other partners. If anyone can hep me out please let me know. I have been able to find everything under the sun how to figure out what I will owe on capital gains but nothing on how or where the losses come into play.

[Natalie Kolodij]

All of your prior losses locked up with a property will become available in the year it's sold. 

They can offset the capital gains from a property that is sold. 

Additionally, any losses generated from other properties during the year of sale will also be able to offset that gain. (Not their prior losses though, that's only available from the property sold)