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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (2030)	3/21/1999 12:05:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 5810

Timothy, Off the top of my head, I don't believe that a partial disposition of a passive activity releases the deferred passive losses from prior years. To convert them from passive to non-passive (deductible) losses one most FULLY dispose of his interest in a fully taxable transaction. There were elections made back in the 1980s for properties to break them up into "activities" just for this purpose. Unless something's changed in the last couple years that I am overlooking??? Colin