In 2011 and 2012 Turbo tax generated form 8582 since I was not an active participant in the LLC's. I had accumulated passive loses in these 2 years. From 2013 - 2022 I had passive losses from the LLC's except for 2017 which I had a passive gain of $751. I was an active participant from 2013-2023. Turbotax applied the passive losses from my K1's for the current year to my ordinary income in those years.
In 2023 I have passive gains from the LLC's on my K1's.
The amount reported on form 8582 were never used. I thought turbotax would automatically use the disallowed passive losses once there were passive gains in subsequent years.
I would like now to apply my 8582 disallowed passive losses from the prior 2 years to my passive gains and the NOL carryover to my ordinary income for 2023.
Can I just use 2023 schedule 1 line 8 to report my total NOL carryover from the prior years or is it more complicated?
How to I enter the disallowed 8582 passive losses on my 2013 return?
Are passive losses always applied to ordinary income before your standard deduction is applied seems unfair?
