Thanks Mike for the quick and detailed response..
I totally agree with 1231 gain treated as capital gain and the tax rate thanks..
going back to 8582..
Here is the scenario .. I have 3 K1's first one with passive loss or $40,000 and the second one with passive loss or $30,000 and the third one with 1231 gain of $50,000.
Here is my 1231 gain of $50,000 is taxed as capital gain .. that's good
my understanding is that you mentioned the $50000 is going to passive gain also in 8582 to increase the allowed loses for this year.. is that right ?
Thanks again
