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Investors & landlords
Form 8582 shows all your carry foward losses if you in deed had qualified for Real Estate Prefessional Status and treated all your real estate activity as ONE trade of besiness regarless of some were active and some were passtive. If you were not qualify under the 9 election to deduct the passive lossess each year and carry them forward until Final K1 one then you basically taking all the losses in 2021 and its done with. Only a REPS status carries the losses forward so you have to you your individual status how you took the losses. If you materially participated thenn you may have taken then yearly to a certain limit and carry forward. If its rcorded on form 8582 then that will carry it forward the Final K 1 is done with.
‎October 15, 2023
4:13 PM