Thanks a lot John for your comprehensive explanation.
By the way, I'm using TT Home and Business.
However, I'm still confused. Apparently there two different expressions:
1. NOL
2. 8895 = Losses carryforward
Your explanation deals with NOL as does Publ 536.
You see, I did not see NOL on 8895. I only saw: losses carryforward.
TT takes care of passive losses on Sch D, K-1, etc . It uses them and carries them forward automatically.
The same is not happening for the losses indicated on Form 8895.
Do you see my confusion? Those TT did use those losses this year. Why not? Should it? Will TT use them next year?
Thanks again.
Armando
