I have some suspended K-1 losses from an S-Corp due to at-risk limitations. Can I apply these against gains from another S-Corp to reduce my taxes from the second corporation. David
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Question regarding Suspended S-corp losses
Apr 05, 2007
1 Replies
David, I think you're referring to the passive loss rules (Tax Reform Act 1986). And yes, passive losses can be applied against passive gains. Furthermore, when you completely sell a particular passive activity, those 'suspended' losses from that activity are released.
-Doug
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