Hi @Rick19744,
Your answers are very clear and helped me with my federal calculations for my final K-1 (real estate). I'm now doing the state returns since I have income (Montana and Oregon -- I am a resident of California). I realize that I most likely have not been doing my state returns correctly. I have not been filing state taxes for Montana and Oregon, primarily because I have had losses and thought that I could just carry them forward until I eventually had gains. I was under the impression that I could accumulate losses similar to federal. From reading other threads and some of the Oregon non-resident filing rules, it seems that I was supposed to file taxes even for years when I had losses so that I could use the carry forward losses. Is that true? If it is, what are my options? These real estate K-1s generally have big losses in the early years that I definitely want to use.
