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Hi David,
Thank you so much for your answer. The K1s are for residental rental properties and they are indeed passive losses. I did check the box 'all investment are at risk', but I am not 'actively participating in the activity'.
So if the losses can only be used to offset other passive gains, and total losses are higher than total gains, will the losses be carried over for offsetting future gains?
Thank you
March 16, 2023
8:37 AM