First, is Passive Activity Losses synonymous with depreciation/ depreciation expenses?
We have one rental that we turned into an LLC a couple of years ago, single owner, out of state. On the section where you can enter in Passive Activity Loss Carryover from prior years, it states to enter it from Schedule E. From last year's Schedule E, on line 21 to be exact, there is a negative number, but on line 22 (Deductible rental real estate loss after limitation, if any, on Form 8582), there is a zero. However, on Form 8582, I have a different negative number on line 4, the unallowed losses.
What can I enter for the carryover? I haven't been entering anything on this entry since it became a rental.
