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I cannot figure out where to get "Sch E - Regular Tax Carryovers", "Sch E - Alt Min Tax Carryovers", and "Sch E - QBI Carryovers" from my 2022 return.

Someone else did our taxes last year. This year we're trying to do it ourselves.

 

I'm at this screen where TurboTax is asking for this information:

  • Sch E - Regular Tax Carryovers
  • Sch E - Alt Min Tax Carryovers
  • Sch E - QBI Carryovers

But I cannot figure out where to get this information. 

 

The help says "Page 2 Worksheet 5" of 8582, but there is no "Worksheet 5" on "Page 2". 

 

The "Learn more" link says:

 

To determine if you have any passive activity losses carrying forward from the prior year, look to last year’s Form 8582, Page 2, Part 7 (VII), and identify whether there is a line item for this activity that has an amount in “Unallowed loss." Part 7 (VII) of Form 8582 shows the amount of the unallowed passive activity losses for this activity. We’ll factor these losses into your current year's return to determine whether you can deduct these losses this year or need to carry them forward.

 

I see the line item for this activity and I see a value under "Unallowed loss" but I cannot figure out which of these 3 boxes to put that value in:

  • Sch E - Regular Tax Carryovers
  • Sch E - Alt Min Tax Carryovers
  • Sch E - QBI Carryovers

Please help me with exactly where I need to get the value for these three boxes? I cannot figure it out.

 

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1 Best answer

Accepted Solutions
AmyC
Expert Alumni

I cannot figure out where to get "Sch E - Regular Tax Carryovers", "Sch E - Alt Min Tax Carryovers", and "Sch E - QBI Carryovers" from my 2022 return.

Look at form 8582, page 2, part VII. You see a line item there. The first column shows name of activity and the second column shows form or schedule.

If you have first column, second column, last column:

  • Rental, schedule E, unallowed loss - put that number in your Sch E regular tax carryover box
  • Rental, Form 6251  (the AMT form), unallowed loss - that would be the AMT number to use. 
  • Rental, Form 8995, unallowed loss - that is the number for QBI carryover

 

You may not have any or all of these lines. You may not have any carryover. If you form is blank like the one shown here, there is nothing to enter. I suspect you at least have an entry for regular carryover.

 

 

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3 Replies
AmyC
Expert Alumni

I cannot figure out where to get "Sch E - Regular Tax Carryovers", "Sch E - Alt Min Tax Carryovers", and "Sch E - QBI Carryovers" from my 2022 return.

Sch E regular tax carryover if your line on Part VII lists rental, sch E. The AMT would include Form 6251 and QBI would include Form 8995 in the descriptions.

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I cannot figure out where to get "Sch E - Regular Tax Carryovers", "Sch E - Alt Min Tax Carryovers", and "Sch E - QBI Carryovers" from my 2022 return.

Would you mind expounding on this? I can't follow along.

AmyC
Expert Alumni

I cannot figure out where to get "Sch E - Regular Tax Carryovers", "Sch E - Alt Min Tax Carryovers", and "Sch E - QBI Carryovers" from my 2022 return.

Look at form 8582, page 2, part VII. You see a line item there. The first column shows name of activity and the second column shows form or schedule.

If you have first column, second column, last column:

  • Rental, schedule E, unallowed loss - put that number in your Sch E regular tax carryover box
  • Rental, Form 6251  (the AMT form), unallowed loss - that would be the AMT number to use. 
  • Rental, Form 8995, unallowed loss - that is the number for QBI carryover

 

You may not have any or all of these lines. You may not have any carryover. If you form is blank like the one shown here, there is nothing to enter. I suspect you at least have an entry for regular carryover.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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