Solved: I entered k-1 loss and there was no change in federal tax due. Why not?

I entered k-1 loss and there was no change in federal tax due. Why not?

posted

Most likely because it would generally be considered a passive loss. Passive losses can only be used to offset passive income, or they are carried over to future tax years.

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Most likely because it would generally be considered a passive loss. Passive losses can only be used to offset passive income, or they are carried over to future tax years.