Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 07-23-2017, 09:18 AM
Junior Member
 
Join Date: Jul 2017
Posts: 2
Capital Loss

I asked my tax pro this question, but thought I would post here too.

We took a bath on a real estate purchase. Bought it for $630K and will be selling it for $200K. The property is used as a rental and has had passive activity losses accumulating for about 8 years too.

I know the tax pro also includes a depreciation schedule in our federal filing each year for the property..

I'm trying to get a sense for what kind of tax benefit (if any) we will receive when we sell the unit. I'm not sure if there are limits to how much of a deduction we can take. Does AMT come into play? Does it need to be spread out over multiple years?

Any and all insight is appreciated.


Last edited by ivanl3 : 07-23-2017 at 09:37 AM.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Capital loss OmegaMan Capital Gains 2 10-03-2015 07:01 PM
Capital Loss CapitalLoss Capital Gains 2 03-04-2014 09:43 PM
capital loss for second home nbptdavid Capital Gains 1 06-25-2012 10:54 PM
Capital Loss in Trading rweworld Capital Gains 3 03-27-2008 10:06 AM
What happens when you sustain a capital loss of more than $3,000? TaxGuru Capital Gains 2 02-07-2008 06:08 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning