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New Member
posted Dec 5, 2024 8:45:51 AM

Passive K-1 loss is being deducted from taxable income

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1 Replies
Level 15
Dec 5, 2024 8:50:30 AM

A passive loss from rental real estate may be deducted if you materially participate and your adjusted gross income is $150K or less. Look at form 8582. We have no access to your return, but all passive losses should first flow to that form, and any allowable amounts calculated. If it's not flowing to the form, then either it's not passive or you answered some question incorrectly.