I have the same exact question so thank you for asking! I need to understand how to carryover over loss of my 10 year old business when all I have is the negative amount from the k1. Do I need to complete a NOL or what?
Thanks again for the question and I hope they respond quickly.
when you do 2020, they'll be a question asking if you want to transfer over 2019 data. that would include the passive loss disallowed for 2019 if TT is functioning normally. don't know what the 2020 worksheets will look like but there should be a k-1 worksheet in the 2020 tax file for the k-1. if like 2019, in the worksheet they'll be a section for the passive loss carryover. the question is whether this is a partnership with a QBI carryover. In 2019 TT messed up royalty in that none of the QBI carryover info from 2018 transferred to 2019. the passive losses did.