The losses were accumulated from a "Passive Activity", and this gain is also from the same "Passive Activity", hence we can call it Passive gains.
In that case, what would the answer to my below question would be?
Over the years (including current year) I have reported losses on form-8582, stemming from multiple K1s. In the current year, I have a gain by selling my interest in one of the K1 (and this K1 has never incurred any loss).
Can I utilize the losses on form-8582 (which originated from other K1s) to offset this gain?
Thanks
