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Rental properties (Schedule E) passive loss carryover from prior year and in 2022 it is now in K-1
I used Schedule Es to report the rental properties in 2021 (inside turbotax tax). This year the rental properties are now reported as part of this new LLC using K-1.
#1 - I still have passive loss carryover from 2021 that disappear after i deleted/removed the two Schedule Es. since this is new LLC/K-1 should i key that in as part of the K-1 passive loss from prior year (but LLC does not exist in 2021) ? or there is other way to enter that via Turbo tax?
#2 Also, if this year the passive loss still / will be carryover to 2023. Will turbotax retained that information (like they used to in Schedule E)?
Any information will be greatly appreciated
‎April 17, 2023
9:20 AM