Unallowed Passive loss carryover question
I have commercial rental property that was in a single member LLC up to 2015 so taxes were filed personally. I have a large unallowed passive loss on my 2015 Schedule E. In 2016, the LLC took another member so we now file a partnership tax return and I received a Schedule K-1 showing a large rental income. How do I use the Passive Loss Carryovers from 2015 personal return against this income that is on the same rental property?
I am using Turbotax to file and when inputting data for the Schedule K for this LLC, I see an option for Passive Loss Carryovers, but I am not sure which boxes apply to this situation. Any help is appreciated.