I have a client who is a RE professional. They get K-1’s with their RE Investments. The client has a management company (S Corp) that he uses to manage the real estate investments. Can the losses from the real estate investments net against the S Corp income?
Also, The RE investments have a whole bunch of passive loss carryovers (from the time he was not a RE professional) but my tax program is not letting those losses “unsuspend” against his active S Corp income