Schedule D

[BarbaraH0617]

We only have losses from our passive investments. Do we add this info on line 7a of 1040? 

[DawnC]

No, you don't enter anything directly on the forms when using TurboTax.  Are the losses from selling securities?   If so, those get entered into the Investment sales section.   Where do I enter investment sales?

Or if you have rental losses, those get entered in the Rental Income and Expenses section.    Where do I enter my rental activity?

And if you have K-1 forms, follow the path in this help article - Where do I enter a K-1?  

[BarbaraH0617]

We have rental losses - as passive investors. No gains at all. The losses are not from the sale of securities. I'm guessing that those losses do nothing to lower our taxes? 

[DawnC]

Passive losses will only reduce passive income.   However, losses that are not allowed in the current year may be carried forward to future years.   You can report you rental activity on Schedule E, by going through the Rental Income/Loss interview.    TurboTax will complete Form 8582 to capture your passive activity losses.   

Where do I enter my rental activity?