Carryforward losses if rental converted to primary
Greetings! Here is a scenario: I bought a third rental, placed it in service, and it is expected to have have significant repairs in 2021 that will likely lead to passive losses that will be carried forward into the future (due to income limitation). If we end up converting this property into a primary residence in 2022, what happens to these passive losses? Can they be carried forward to offset passive income from the other two rental properties or are passive losses somehow tied to each specific property?