I am a passive owner of a business and have suspended passive activity losses. If I sell the business, can I use all these losses?

Passive activity losses generally are limited to the extent of passive activity income for the year. Losses in excess of this income are suspended and used in future years when there is passive income to offset it. However, when there is a complete disposition of an activity, all suspended losses are deductible, regardless of the amount of passive activity income.