I had losses from a partnership for more than 3 years in the last 5 years. I understand that the IRS may not allow me to deduct the losses. How do I report these losses?

[anton]

Is there a way to delay taking the deduction for these losses? I am not sure how to handle this scenario.

[WillK · Accepted solution]

If you are actively running the business to make money, then you should report the losses. The whole 3 in 5 year bit is not entirely accurate. If you are running and operating your business to make money and have not, then you should report the losses since they are accurate. 

[anton]

Thank you!