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Hi,

I have a rental SFR property in CA. If I have a carryover of unallowed losses and when I sell the property, what happens to the carried over losses? Do you know how this is treated for Fed and CA?

Thanks
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I have a rental SFR property in CA. If I have a carryover of unallowed losses and when I sell the property, what happens to the carried over losses? Do you know how this is treated for Fed and CA?

All of the suspended losses are claimed in the year you dispose of the property -- for both federal and CA.

Ira
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Thanks for the reply Ira. Do you know which publication I can go to find this info?

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Information on rental properties can be found in IRS Pub. 527, Residential Rental Property. www.irs.gov/pub/irs-pdf/p527.pdf. Information on passive loss rules can be found in IRS Pub. 925, Passive Activity and At-Risk Rules, www.irs.gov/pub/irs-pdf/p925.pdf.

Ira
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