How to include prior years unallowed loss for passive business investment the year after final k-1?

[cabill]

I passively own a small portion of a company that switched from being taxed as an LLC to a C-corp at the start of 2022. Therefore, last year I received a final K-1 for 2021. No sale or disposition has occurred. I was told for 2022, I would not be issued any tax documentation from the business.

I have unallowed losses that accumulated during the years that the company was issuing K-1s. My understanding is that I need to continue to show those prior years losses on my return (form 8582), however since I did not receive a K-1 this year, I don't know how to get them into TT. Can anyone advise on how I can include them? I read another post that seemed to suggest I could input a K-1 for 2022 (even though I didn't receive one) that would trigger TT to allow me to enter the prior years unallowed loss, but that seemed wrong to me.

[Mike9241 · Accepted solution]

it would seem the only way to show these PAL c/o's on form 8582 is to continue with the k-1 and just enter 0 for income.

i could not find any other way to show the losses on the 8582 except by override and that voids Turbotax accuracy guarantee. 

[cabill]

Sorry for the delayed reply, but thank you very much for your response.