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How to carryover Non passive loss from Schedule K-1 ?
I have Non passive loss and Passive income from Schedule K-1s.
I also have rental real estate income.
Since Non passive loss is greater than sum of Passive income and rental real estate income, Schedule E Line 41 Total income or (loss) is negative.
Q1: How do I carryover Non passive loss from K-1 (amount in Line 41) from TY2018 to TY 2019 and beyond ? Is there a limit each year?
Q2: Where do I enter above amount in Turbo Tax for TY2019 ?
Q3: Does Turbo Tax keep track of unused Non passive loss from K-1 that can be used in future year?
Thank you !
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‎June 6, 2019
1:08 AM