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Subject Author Date
Question regarding Suspended S-corp losses DavidAndrotti 04-05-2007
Posted by DavidAndrotti on April 5, 2007, 2:08 am
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 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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Posted by Doug on April 9, 2007, 3:10 am
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 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

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

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