Thomas: I am a limited member in the LLC and have no participation in any of its activities. I therefore think that all of the income and loss reported in K1 is passive. I rechecked Schedule E, page 2. In section 28, each of the worksheets I filled in are listed with the LLC name on separate lines. Below that, the ordinary business is listed in the first column. The net rental real estate income appears in the second column. They are not combined. So I still have my original question. Can I subtract the real estate income from the ordinary business loss for purposes of determining how much loss I can claim this year.
