Hi,
I have unhallowed passive losses each year in 2015, 2016,2017,2018 & 2019 and reported each year losses specific to that year ONLY. I never reported cumulative passive loss to IRS.
I mean in 2016, I did not add 2015 unused losses.
I mean in 2017, I did not add 2015,2016 to 2017 unused losses.
I mean in 2018, I did not add 2015,2016,2017 to 2018 unused losses.
I mean in 2019, I did not add 2015,2016,2017,2018 to 2019 unused losses.
Question - Can I report cumulative passive losses from 2015 thru 2019 on 2020 tax returns though IRS does not have a track of mu cumulative amounts?
In other words, if I don't report cumulative, do I lose them?
