Tax question for LP passive investments and personal capital gain

[Michael Wang]

Hi guys,

I have a tax related question if any of you guys have personal experience or knowledge.

This year I have invested in several syndication's as an LP (passive investor) at the same time in which I have sold a rental investment. Since all the syndication's are relatively new, I'm assuming I will be taking losses on those investments (as some of the syndication's do not bring in returns for several years). Can or will those losses be able to be used against my large capital gains income from the sale of my recent rental property? Both of the LP investments and rental property sale are from my LLC.

Thanks everyone

[Ivan Barratt]

I have had several clients offset the gains but the rentals were passive as well. key question: is your rental a passive investment or do you actively manage it? you'll need to pull in a cpa on this. if your cpa says no I'd ask another just be sure.