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Grouping Real estate - sale f a property

  • 1.  Grouping Real estate - sale f a property

    Platinum Most Valuable Member
    Posted 19 days ago
    Hi Friends

    i have a client with rental Real Estate Properties. Several have losses. However, with out grouping, they could never be a Real Estate professional and reap the full benefit of their losses.

    Do i recall correctly from lectures i have attended,  that once a group is established, a sale of a property in that group at a loss is deferred untill the entire group is disposed of?

    if i am correct, then this is a strong point to be considered.


    Any comments greatly appreciated.



    Abby

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    Abby Alhante
    KURCIAS & ALHANTE, CPAs LLC
    Melville NY
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  • 2.  RE: Grouping Real estate - sale f a property

    Silver Most Valuable Member
    Posted 18 days ago

    Suspended passive losses are not able to be used but I am not aware of any prohibition on use of the loss on sale – I would need to check.

     

    Very truly yours,

     

    ROBERT S. BARNETT

     

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