Please clarify a couple of things.
- Did you get any of these forms in 2021?
- K-1
- 1099-DIV
- 1099-INT
- Do you have rental property or get Royalties?
- Did you have a Schedule E in 2021?
Passive loss carryovers happen when you weren't able to fully deduct passive losses on your previous tax returns due to passive loss limitations. If you couldn't deduct all of your losses on previous returns, you can enter the amount of your carryover to include it on your current year return.
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