Should I amend? I forgot to add net rental real estate loss (carryforward) from previous year. This is my first year filing with Turbotax (used an accountant before).

Yes, you should amend your return.  Otherwise you will that loss.  It won't be available to offset future rental income or reduce the gain on the sale, if and when you sell the property.  But do not amend your return unless and until it has been accepted by the IRS and you have received any refund you were expecting.  To amend a return in TurboTax: 

 

How do I amend my federal tax return for this year?

 

 

Thanks!

 

Do you know which questionnaire I should answer in TurboTax to add my passive net real estate losses from prior years? 

 

I don't remember an explicit question regarding passive activity losses from prior years, when I filed the original return. 

 

Regards

Dinesh

Yes, the passive loss carryover question appears during the interview for your Rental Property.

 

Open your TurboTax Online return and search for "schedule e" then click the "jump to" link.

1. Select the rental property you need to work on.
2. Scroll down to Less Common Situations and click the pencil icon beside "Carryovers, limitations..."
3. Click on "Make Changes" to enter/edit any carryovers that appear on the page.
4. Continue back to the property summary page.

If you're using TurboTax Desktop, update the Property Profile for your Rental Property.

1. Continue to the page "Do any of these situations apply to this property?"
2. Check the box under Carryovers that applies.
3. Enter your carryover amount(s) on the screens that follow.
4. Continue back to the property summary page.