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Was that the case even though the client had other passive income? My client has plenty of other passive income and I had expected passive offsets passive. Than...
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That was my belief as well. The client has substantial net positive passive income.
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He has substantial basis in the partnership - many times the loss amount- but it's an investment, so he does not materially participate in the enterprise. Thank...
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I must be comparing apples to oranges - my assumption was passive losses and income on the same K-1 would offset, but the box 1 loss is showing as suspended due...
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Thank you Jim from Ohio. My expectation was that since the client has a substantial positive capital account, the loss would offset income items. (?)
