Yes, if you used TurboTax this year and have a suspended loss, you will be able to use the suspended loss next year when you have passive income. You don't need to take any additional steps now.
A passive loss carryover is created when you have more expenses than income (a loss) from passive activities in a prior year that could not be used that year. Instead, the passive loss is carried forward to future tax years to offset any passive income. The loss continues to be carried over until you use up the entire amount.
Passive Loss Carryovers can be created by any passive activity. Most come from rental properties (Schedule E). If you used TurboTax to file your tax return last year, any Passive Loss Carryovers would appear on Schedule E Wks - Carryforward to 2017 Smart Worksheet (final page - note this is a TurboTax supplemental schedule and not an IRS form). If you had more than one property, or you didn't use TurboTax last year, Passive Loss Carryover appears on Form 8582.
When you prepare next year's return with TurboTax and show passive income, TurboTax will apply any suspended losses available from this year's tax return.
