Thank you all.
I have located the mistake(yes, it was a mistake). While preparing my 2017 Return, I had ticked the question on all my investment is at risk. I realize, now, that since I was a passive investor, I should not have ticked that box. When I unchecked it, the year's loss is zero.
I went through the subsequent returns (2018 to 2022) and thankfully had NOT ticked the box.
Hence, my passive loss carried forward remained overstated by 130K. As the aggregate losses carried forward prior to 2017 was in excess of 150K, the mistake in 2017 has not affected my taxes.
MY ISSUE NOW IS
1. When preparing my Return for 2023, can I merely reduce the passive losses brought forward by 130K.
2. Since the Form 8582 in the previous years is technically wrong, do I have to file amended returns for the past years, even if there is no tax impact.
Thanks in advance.
