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Old 10-12-2017, 02:13 AM
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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.



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