Hi, David: I found one of your older relies. I have the following question and wonder if you can help.
We have limited partnerships in a few apartment rental properties. I have received K-1's for these. We receive dividends quarterly and K-1's for the year but otherwise being passive investors. When entering K-1's, there is a prompt asking us to describe the partnership, we have checked the box "I have passive activities losses" and the box "All of my investment in this activity is at risk.
However, we do not know if for our case, if we need to also check the box "I have at-risk losses carrying over from 2020". In your Feb 8, 2021 post, it sounded like that we should not check this box. Just want to check to make sure that this box does not need to be checked.
In more general questions, what actually fall under the Passive Activity rules vs At-Risk rules?
My final question is about passive activity losses carryover. I have box 2 losses for these investments. Should I still file Arizona, Oregon and Colorado nonresident taxes where the properties reside and where I have never lived.
Thanks so much in advance for your expert guidance.
