Possi Posted April 4, 2020 Author Report Share Posted April 4, 2020 16 hours ago, BulldogTom said: Passive income does not have to come from the same activity to offset passive losses. It just has to be passive income. Are you sure his K-1 from his S Corp is really throwing passive income? Tom Modesto, CA Indeed, it was not. Judy really nailed it for me. The software was right. I just couldn't wrap my head around the analysis at all. Whew. Thank God for this forum, and especially Judy for holding my hand and walking me through this. 2 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 4, 2020 Report Share Posted April 4, 2020 I'm happy to have helped solve the puzzle. Quote Link to comment Share on other sites More sharing options...
Sara EA Posted April 8, 2020 Report Share Posted April 8, 2020 The exception is publicly traded partnerships, where passive losses can only offset passive income of that particular partnership. Quote Link to comment Share on other sites More sharing options...
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