I am a limited partner in a few LLCs that own commercial properties in a state- Massachusetts, where I am not a resident. I have received non-resident K-1s for this state but have not filed non-resident state returns in the past. When I combine the amounts on these different K1s, I've only had passive losses to carry forward each previous year. I believe this means, I could put the total amount of the passive loss carry forward that's accumulated over the last several years on the state's non-resident return starting this year. If so, where would I put it on the return?
I get several different K1s for the properties in this state. Do I base the amount of passive gains or losses on the line in the state K1 that's titled, "Net income or loss from rental real estate activity"? Or from the line under Reconciliation of Partner’s Capital Account that's titled- State "net income for the year"?
So far all of the passive losses from the non-resident state have been carried forward on my state return by turbotax. Would I need to deduct those passive losses that have accumulated from the non-resident state this year on my state return? If so, how would I go about doing this? Or is there some other way I should handle this?
Thanks for all your help!
