Real estate tax in California

[Sharon Hsu]

Hello everyone,

I live in California but I recently sold my rental property in Ohio. I experienced a loss in terms of property sale and operational costs (managing and maintaining the property etc). Does anyone know which form/forms to use to carry over the property sale loss and property operational costs losses to 2020?

My tax preparer tried to use schedule D during my tax returns this year but the loss was not carrying forward.

Any help would be so much appreciated! Thank you so much!

[David M.]

@Michael Plaks

As always, thanks so much taking the time to explain complex, technical taxation topics.  I actually had a vague notion of what you explained as taxation layers (first time I'm hearing of this term).  But, when I sold my unit and went through the taxes, it didn't seem to turn out that way.  That's why I feel it was "inefficient."

Anyway, thanks for setting me straight.  Now that I know what I'm looking for, I'm going to see how the tax forms arrive at this when I have some free time,  :)  Again, thank you so much for your time and expertise.