David, I have a friend who tells me that as a resident of NY, non-real estate professional (I have a W2 job), if I claim passive loss from real estate as a LLC limited partner (property located outside NYS), that the (accelerated?) depreciation is ignored and my NY State return should change me state tax if there is no longer a loss. I tried to model this in TT 2021 but my numbers didn't change (passive loss didn't help Federal or State). Can you explain or provide links that would?
Thank you!
