All Forum Posts by: Alfredo Cardenas

Thank you for your response but I am still confused. What is the short answer for someone that is not a real state professional and who is not married to one? Are individual (for each rental property) passive losses not allowed to be sum up together to offset capital gain of the sale of one of the properties?  

Hello,

I am new to investing and I lack knowledge of how to use my passive losses from rental properties. or more than lack of knowledge, I just don't think my CPA knows this topic well.  Lets say that i have a total of $100K in total losses that have been carrying from prior years from all of my rental properties combined. Lets say I sell one of the rental properties for $100K. My CPA is telling me that I can only use the losses that have been carrying forward from that specific property and not all of my rental properties combined. Lets just say that $50K has been carrying in losses from this particular property, this means (according to my CPA) that I can only offset $50K from the capital gain of the sale of this one property. Is he correct? He is basically saying that each loss for each rental home can only be applied to the same home and not use the looses of the entire portfolio. 

Please advise.

Thank you