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PAL Adjustment


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#1 Taxgirl

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Posted 19 July 2011 - 10:13 AM

I have a client that sold a rental property and ATX added a PAL Adjustment on form 4797 on Part 1. Does anyone know what this is for? Thanks for your help.

#2 Gail in Virginia

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Posted 20 July 2011 - 02:02 PM

My guess would be that PAL stands for Passive Activity Loss, but without knowing the situation that is just a guess.




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