Got it. Thanks for your response. I have a couple of follow-up questions.
1) So, to carry forward a passive loss, I need to include the K-1 in my filings over the years?
It seems per TurboTax that I have to just manually input the passive activity losses from last year. Given this, is there any benefit for including the K-1 in the first year since you will include the relevant information from carrying forward the passive loss in the next year?
2) Additionally, if the K-1 doesn't show any income or loss then is there any benefit trying to include it when I file or can I skip those?
For context, I don't expect to receive any distributions/gain/income from these until complete disposal (~10 years out). I'm trying to avoid having to needlessly complicate my taxes to carry forward passive losses if I can just do this when a taxable event occurs.
Thank you!
