Hi Marc,
I want to clarify - checking the box and filling out the Passive Activity Losses Carried Over From Last Year data fields will do which thing -
- Pair those losses against any passive income earned in 2023?
- Or - push them through to become a 2023 carryforward to be used against 2024 passive income?
Also, what if the passive loss carryforwards from prior years are much larger than the passive income just this year (2023) - where do I generate the historical list of passive loss carryforwards to use in future years?
