I have TurboTax for Business (for my LLC) and TurboTax Premier for my personal income tax. I have two rental properties related to the LLC. I sold one of the properties in 2024. Since obtaining the properties, my income has exceeded $150,000, resulting in the accumulation of passive activity losses. Can I write off the passive activity losses associated with the sold property for 2024 regardless of my income? If so, how can it be reflected in TurboTax? Do I need to fill out a dummy Schedule E and Form 4797, or should the information be transferred from the K-1?
