Form 8582 Again

Forum|Forum|3 years ago
February 14, 2023
1 reply
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I am supposed to have a form 8582 flowing through from 2020 and 2021 taxes. It is not there. I do have a new form 8582 this year for a newly acquired K1 percentage. I was hoping I could add the form and fill out the information myself from the prior year. Don't know how to get the form. If I click on Open Form and type in 8582 it brings up the new 8582. How do I get a blank form?

Best answer by ThomasM125

You can only file one form 8582 with your tax return. Since your K-1 entry generated one, you will have to use that one to enter any carryover numbers from the previous year. Prior year loss carryovers are entered on line 1(c) and 2(c) in Part I of form 8582. Your loss carryovers from last year are listed in Part VII.

ThomasM125Answer

Level 15

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Benny12Author

Level 4

So I went in to add carryover numbers to the existing 8582. Unable to do any editing. Everything is grayed out except for last choice which goes to on demand tax guidance. Any thoughts?

DianeW777

Level 15

Actually it's not a real estate rental. It's equipment rental. The business was closed at the end of 2020.

Since this was a rental of equipment, and not a passive activity (Schedule E for real estate rentals), then all losses should have been included in the year the business ceased to exist/was closed. It's unclear why you have a K1 for a business that closed in 2020.

Please update with more details and we can help you.

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