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Alh

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  1. Let's assume I have $5,000 rental business loss in the 1st year, and $2,000 rental business gain in the 2nd year. That means I would not have any rental income tax neither on the 1st year nor on the 2nd year AND I would still have $3000 loss to carry over, right? Now, if I sell at the end of the 2nd year and have a capital gain of 10,000, would I need to pay the capital gain tax on $10000? Or could I use the remaining 3000 loss to offset the capital gain and only pay capital gain tax on $7000 ($10000-$3000) ?
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