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April 17, 2022
Question

I have K-1 investments that report loss in box 2. Turbo tax is not limiting the passive activity loss. How do I limit these losses?

  • April 17, 2022
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1 reply

April 17, 2022

are you a real estate professional (REP) or did you check the box that you actively participate?  if a REP, there is no limitation. if you checked you actively participated up to $25,000 in losses are allowed if your adjusted gross income is under $150,000 (figured without the loss)