Tax Explorer
Level 4

Hi,

There's a situation where an individual taxpayer owns 30% of a passive holding LLC, which in turn owns an interest in a passive rental LLC. If the passive holding LLC disposes of its entire interest in the passive rental LLC, the individual taxpayer owning 30% of the passive holding LLC should be able to deduct his portion of the suspended passive activity losses (PAL) from the passive rental LLC on his personal return. But I can't find an option to get the suspended PAL from the underlying passive rental LLC to show up on the individual taxpayer's personal return on ProSeries. Is there a way to allow the suspended PAL from the underlying passive rental LLC to show up on the individual's personal return on ProSeries?

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