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Old 04-04-2011, 08:47 PM
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Thumbs down Can Suspended Losses from Rental Property converted to Personal Residence be released upon sale of another rental property?
Can the approximately 40K of Suspended Losses @ 12/31/09 from a Residential Rental Property, converted to a Personal Residence as of 01/01/2010, be released and used to lower the gain from the sale of another multi-unit residential rental property sold in Sept 2010? This is my first question for the Tax Guru. Hope you can help me with this one. Is there any IRS precedent or rulings on this?


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