Where do I find the prior year passive loss on schedule E? which line number do I use?

[PatriciaV · Accepted solution]

Passive Loss Carryovers for Rental Activities are not reported on Schedule E. You will find the carryover for next year on Form 8582, Worksheet 5, Column c. (AMT carryovers appear on a separate copy of Form 8582 with Alt Min Tax under the title.)

To see this form in your current year return, you can download your entire return (including worksheets) to your computer as a PDF file to view or print. For this option, choose My Account in the TurboTax header then select Print Center.

Note: Passive Loss Carryovers for Schedule E are entered during the setup interview questions for your Rental Property. 

First check the box to indicate you have passive loss carryovers to enter (see screenshot #1 below - click to enlarge). The next page provides boxes for both regular and AMT carryover amounts (screenshot #2).

Find this under:

1. Federal Taxes
2. Rental Properties & Royalties
3. Start/Revisit
4. Add a property or Edit an existing property

The amount to enter appears on Form 8562 Worksheet 5 Column c (screenshot #3). Enter the "total." AMT amount is shown on the Alt Min Tax copy of the same form.

[revised 3/31/17 for clarity]

[chiugloria]

you said, "Passive Loss Carryovers for Rental Activities are not reported on Schedule E."  But at the TT passive lodd from prior year, the form ask "Enter any passive loss carryovers for this rental income, which are reported on Schedue E , Schedule D or from Form4749."  Can you provide guidance what to enter in Passive Losses From Prior Years?  THanks

[PatriciaV]

Although Passive Loss Carryover is applied to the income on Schedule E, the amount to enter from last year (the carryover amount) is found on Form 8582 as described above.

[chiugloria]

The 2nd screenshot (Passive Loss Carryover) shows to enter regular tax carryover and ATM carryover from schedule E.  Can I confirm which Form which line to find the value to enter?

[PatriciaV]

See screenshot #3 in the revised answer above.

[chiugloria]

Can the 2nd screenshot be revised to "enter from Form 8582, Worksheet 5, Column c" instead of "enter regular tax carryover from Schedule E"?

[ebrataxes]

I have my Regular tax carryover but where do I get the AMT Carryover?  Are they the same thing?

[PatriciaV]

AMT carryovers appear on a separate copy of Form 8582 - see last paragraph in answer above.

[hatchde]

The 2016 TurboTax webform continues to state the information comes from Schedule E, with no mention of Form 8582. The 2016 instructions for this screen (screenshot #2 above) says: "Enter any passive loss carryovers for this rental income, which are reported on Schedule E, Schedule D or Form 4797. Enter these as negative numbers."

Yet in several community threads, like this one, it's made clear the passive loss carryover amount is found in Form 8582. Where/how does one point out this discrepancy to TT to correct/clarify how the numbers work here?

[PatriciaV]

This post is several years old. You may wish to post a new question so you receive an answer that applies to the current version of TurboTax.