431012
I recently filed an amended return for 2016 (from TurboTax software) where I had erroneously put mortgage interest on a rental property as a personal deduction instead of as an expense against the rental income. When I amended the return to accurately classify the expense, it pushed 2016 into a passive loss unallowed situation where total rental expenses exceeded rental income. When I now open up my current working 2017 (unfiled) return, TurboTax is not recognizing the amended return and the prior year passive carryforward loss to accurately account for the now cumulative loss from both years on form 8582.
Can I edit the forms manually?
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In the introductory part of the rental section (where you enter the rental's address and so forth), there should be a check-box asking about Passive Loss Carryovers. Check that, and it should allow you to edit the amount of carryover.
In the introductory part of the rental section (where you enter the rental's address and so forth), there should be a check-box asking about Passive Loss Carryovers. Check that, and it should allow you to edit the amount of carryover.
Thanks.
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