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Author: edcosoft Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 118626  
Subject: Re: Limited partnership-low income housing Date: 4/5/2001 4:42 PM
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This sounds wrong: If you have suspended passive losses it indicates you wer'nt able to deduct them in the past due to not having any passsive (Or offsetting active) gains. If you didn't deduct them they did not reduce your basis, particularly to a negative basis.

IF the above is correct, you should have a loss, not a gain on the sale. That loss recoups some of your unused passive losses. I forget how you take the remainder, but you do get them all when you sell. ed
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