Sorry, I neglected to state that the company is a LLC in which we have a 2012 Non-passive loss which by declaring throws us into a NOL which does not contribute any thing to our tax situation. We owe zero taxes without its loss. Want to suspent the loss until we have income from the company. Our participation is less than 500 hours but we perform some duties that the other partners don't(EXAMPLE-cost analysis, job description reviews) The company is out of state and run by a managing partner. In reading Pub. 525 is seems we have some significant participation that could qualify as passive. If so, couldn't we put the loss down as passive and carry the loss forward under "passive-loss limits"? If this is possible do I file a 1040X for 2012, to remove the NOL? Where do I list the significant participant passive actity going forward. Does it go under schedule E, line 28,column f? Thank you