Rental converted to primary -how to handle loss on sale Facts:
Bought 2003 as rental
Rented out till mid 2008. Claimed depreciation for these years and also have unclaimed losses due to passive activity income limits.
Mid 2008 house needed a lot of work and fixing up so converted to primary. Sold the house mid 2011 for a loss. During this time spent 100k to fix up the place to make it sellable.
Question: do I get to claim all the back years of losses that I could not claim because of passive activity limits.
Also, the loss on sale. How do I claim that? |