Why doesn't/where does TurboTax track my passive loss carryover from real estate & partnership income? I think it may not have autofilled for years. How to do and fix?

Forum|Forum|6 years ago
March 24, 2020
1 reply
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Please give me simple steps to see what my passive loss carryover was in each of the last five years, and then where it should show up on the following year's forms - I don't think it's been done right. I need to talk to someone, not pay for a CPA expert, but because TurboTax's software doesn't do this clearly. Please call.

TurboTax Premier Online

Anonymous

yes it tracks them to the extent they are carryforwards form 8582 and related worksheets for passive losses not related to publicly traded partnerships. however when starting a year's return you my need to use transfer my data to get the carryovers to carry into the current year return.

partnership income/loss may or may not be tracked through the 8582. if the partnership is publicly traded, its loss stands on its own and can not be used to offset other passive income. if there's current year passive income it is reduce but not below $0 for any passive loss carryovers it might have. passive carryovers are in a section on the k-1 input worksheet. it is not shown on form 8582.

we can not see your returns and no one will call.

if you did not use transfer my data when starting a year's return those losses probably would not have transferred. the same would happen if you had your returns in different accounts.

you can try contacting support or take your returns to a pro.