UK resident clients have sold a property in Florida. Once depreciation has been added back, a capital gains arises in respect of the sale, but unrelieved losses are brought forward from letting the property. US tax law provides that losses from passive income can be seat against a gain on the sale of the asset
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.