North Atlantic
Member
I have been getting K1s for Company A and Company B as passive income. Company B has accumulated losses that are being carried forward. However, B was just completely acquired by A and I am no longer getting a K1 from B.
What is the mechanism for taking my prior losses on B and properly applying them to profits on A going forward?
What is the mechanism for taking my prior losses on B and properly applying them to profits on A going forward?