My K-1 form lists my main investment (LLC A I'll call it) and several passthrough companies that it owns (LLC B, LLC C, etc.). I'm filling out the section about passive activity losses. I don't know if rental income counts when calculating passive activity loss.
For example, last year, LLC B had -12 ordinary income loss and +336 for rental income. Does that count as a passive loss to carryover?
LLC C had -23 for ordinary income loss and +15 for rental income. Does that count as -23 for passive loss carryover, or -8?
Thanks!