Residential Real Estate Rental Loss Carryover. I have two residential real estate properties that I rent out. One consistently generates a positive taxable income and the other a negative tax loss. In the past, when the two properties combined resulted in a net tax loss I was able to carry that loss forward to the next year and TurboTax automatically brought it into my return. While doing my 2023 taxes, last years tax loss carryforward did not come over into my 2023 return (TurboTax Premier) and I haven’t been able to figure out how to do it manually. What do I need to do or has there been a tax law change?
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No, there has not been a law change. Follow the instruction below to include your passive activity carryover loss on your 2023 tax return.
You must go into the rental property income section first, then follow the steps to enter your carryover loss.
No, there has not been a law change. Follow the instruction below to include your passive activity carryover loss on your 2023 tax return.
You must go into the rental property income section first, then follow the steps to enter your carryover loss.
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