Hello,
Can my carried over passive losses be used to offset my spouses' current year's passive income? Is there a limit on how much passive loss can be carried over to the current year to offset passive income?
Thank you in advance!
passive items would be netted. there is no limit on the unused amount that can be carried over. , however, for MLPs and PTPs each stands on its own. losses can not be deducted until either there is sufficient income in future years to offset the carryover or you dispose of it. then any loss becomes nonpassive. if it generates passive income passive losses from other sources can not be used to offset the income.
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