I made $x investment in a S corporation in 2012 and the business got closed in 2015. It was a non rental property business. My investment was of passive type and for all 4 years of operation of the business, I received passive loss on K-1. The total passive loss by end of 2015 is $y, which is less than my original investment of $x. After the closure of business, I've received remaining amount $x-$y from majority business owners. My question is:

1. Can I use the total passive loss (including carryover from previous years) against my current year capital gains?
2. If not, do I have to keep carrying over the passive loss till I have passive gain in my return?