It depends. JCPhil Carl must be working on this simultaneously with myself. He is correct though. There is a question in your rental profile that asks if you are an active participant. If you say no to this question, your entire losses are disallowed. This is the workaround that you would use to exclude the $25,000 passive loss exclusion.
Yes, it is possible not to have a carryover at all unless the losses are above the $25,000 amount.
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