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How do I fix this error when entering Schedule K-1 (form 1065) data: "Passive Operating Loss should not be greater than the total loss"?
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How do I fix this error when entering Schedule K-1 (form 1065) data: "Passive Operating Loss should not be greater than the total loss"?
It would be helpful to have a TurboTax ".tax2019" file to diagnose your issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:
For TurboTax Online, click the dropdown arrow next to Tax Tools on the left menu panel, then click Tools under that. On the Tools Center pop-up, select Share my file with Agent. When you confirm the request, you will get a box with a token number. Reply with the token number and I’ll be able to open a TurboTax tax return with your numbers but not your personal information. That may help diagnose the issue.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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How do I fix this error when entering Schedule K-1 (form 1065) data: "Passive Operating Loss should not be greater than the total loss"?
I have the same error regarding my Schedule K-1: "Passive Operating Loss should not be greater than the total loss"?
TurboTax seems to have taken my carry-over loss from 2018 ($6k) as the 'Total loss'. My rental property has now lost more money in 2019 ($8k); which is what I entered from last year's K-1. Is there something wrong with the way TurboTax is calculating what it considers 'Total loss'?
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How do I fix this error when entering Schedule K-1 (form 1065) data: "Passive Operating Loss should not be greater than the total loss"?
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How do I fix this error when entering Schedule K-1 (form 1065) data: "Passive Operating Loss should not be greater than the total loss"?
It would be helpful to have a TurboTax ".tax2019" file to diagnose this issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:
For TurboTax Online, click the dropdown arrow next to Tax Tools on the left menu panel, then click Tools under that. On the Tools Center pop-up, select Share my file with Agent. When you confirm the request, you will get a box with a token number. Reply with the token number and I’ll be able to open a TurboTax tax return with your numbers but not your personal information.
For TurboTax Download/CD, on your menu bar at the very top, click “Online” and then “Send Tax File to Agent”. When you click to send, you will get a pop-up with the token number.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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How do I fix this error when entering Schedule K-1 (form 1065) data: "Passive Operating Loss should not be greater than the total loss"?
Same issue. My token # is 700162