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Get your taxes done using TurboTax
@burgerguy14 wrote:
I am able to generate a Form 8582 is by entering my carryover loss for EACH property from 2017 into 2018. And then entering my carryover losses from 2018 into 2019.
Yes, you can certainly do that but the question is whether or not that is the proper procedure.
If the loss generated an NOL, because the loss was not considered to be a loss from a passive activity, you cannot create a passive loss that would be carried forward (out of thin air) by manually generating an 8582. Doing so would be improper.
‎September 28, 2023
12:12 PM