Updated almost 9 years ago on . Most recent reply
K1 income = Passive Income?
Hello BP nation ! If we would receive K1 income from own business, would it be considered passive income? If so , can we use the suspended real estate passive loss (Suppose tax return over 150k) to deduct K1 income ?
I would like to learn how to release the suspended passive loss from REI to use it as reduction (besides become real estate professional).
Thank you!