ThomasM125
Expert Alumni

State tax filing

Your suspended losses will show on federal form 8582, Passive Activity Loss Limitations. That form will carry over automatically in TurboTax to future years. The loss will be applied to future Oklahoma tax income as is allowed by law.

 

The loss is not a net operating loss, that occurs when you have more in allowable business losses than you have ordinary income. 

 

I'm not familiar with the passthrough entity declaration section, but the only thing you need to create the form 8582 and have your passive losses reported is to enter the schedule K-1 and answer the associated questions accurately.

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