If my passive loss carryover in TT does not agree to my Sch.K supplemental information, code 99o47, cumulative passive losses, should I change my passive losses in TT ?

Forum|Forum|3 years ago
March 26, 2023
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I do not have any other passive income or losses.

TurboTax Online

ThomasM125

No, your passive loss carryover on your tax return may differ from the passive loss carryover listed on your K-1 schedule. That is because you may be able to use your passive loss as reported on your K-1 schedule against passive income that is listed on your personal tax return, thus reducing your passive loss carryover to the next year. The passive loss carryover listed on your K-1 schedule could not take into consideration how you used passive losses on your tax return, so it may differ from what your actual loss carryover is.

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