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New Member
posted Mar 14, 2025 12:03:28 PM

I have a carryover publicly traded partnership loss from a prior year. How do I get TurboTax to generate a schedule showing that carryover, plus this year’s loss?

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3 Replies
Expert Alumni
Mar 17, 2025 9:56:53 AM

A loss on your publicly traded partnership should generate form 8582 in TurboTax and have this year's losses along with any prior year unallowed losses on it.  Those losses will pile up until you sell your shares in the activity.

 

@mpelzsherman 

New Member
Mar 17, 2025 12:37:42 PM

Thanks for the reply! However, I have tried many times to enter the data in the TurboTax “wizard”, but it still isn’t showing up on the return. TurboTax is not generating a form 8582, and line 27 of the return shows the carryover loss checkbox checked “No”.

 

Can you tell me how to navigate the wizard to get this data to show up correctly? Thanks again!

Expert Alumni
Mar 18, 2025 12:26:04 PM

You can check this using Forms Mode in any version of TurboTax for Desktop.

 

  1. Open your return and click the Forms icon in the TurboTax header. 
  2. In the list of Forms in My Return on the left, scroll down and look for K-1 Partner [name of partnership]. 
  3. Click the form name to open it in the large window. 
  4. Scroll down below Line 21 to Section A.
  5. Check each column to see: 
    1. (a) this year's gain or loss, 
    2. (b) suspended losses from last year, 
    3. (c) net income/loss allowed this year, and 
    4. (d) the amount of losses suspended for this year.
  6. Section C shows a recap of what is reported on Schedule E.
  7. Note that amounts in a green font were transferred from you prior year return. Blue font is current year. Black font represents a calculated number and cannot be changed.
  8. Click Step-by-Step in the header to return to the main screens.

If you're using TurboTax Online, you can print/preview the forms and worksheets in your return following these instructions: How do I print a copy of my TurboTax Online return before filing?