- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
There is carryover (any passive losses in prior years carryover and can be used to offset any future gains). There are also taxable events that could be included in those past K-1's (e.g. line 5 interest, or line 6 dividends). I'd use TT to amend you prior year returns, and then make sure to enter 2015's suspended losses into the amended 2016 return, and 2016's suspended losses into your 2017 return.
**Say "Thanks" by clicking the thumb icon in a post
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎June 5, 2019
2:26 PM