How do I know if I have any passive loss carryovers?

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How do I know if I have any passive loss carryovers?

If you have had losses in prior years and did not actively participate in your business, your losses may have been limited. If you did not actively participate in the business, you should refer to your prior year tax returns to see if your losses were limited. If they were, you should review any detail that may indicate what losses were carried forward for future years.


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