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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
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If someone is carrying passive losses, would they be able to

Customer Question

If someone is carrying passive losses, would they be able to use it to offset income from a 1031 exchange or non-traded REIT?
Submitted: 4 months ago.
Category: Capital Gains and Losses
Expert:  Mark Taylor replied 4 months ago.

Hi, my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 4 months ago.

Passive income is needed to offset passive losses. The income from a 1031 exchange would not be eligible to offset the passive losses.

Expert:  Mark Taylor replied 4 months ago.

The income from a Non-traded REIT would be either dividend income or capital gain income.

Expert:  Mark Taylor replied 4 months ago.

If you tell me more information about your situation I may be able to give more suggestions.

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