The entry screen for passive losses carried over from a prior rental property are found in the TurboTax interview for Schedule K-1 reported on a personal Form 1040 return.
The easiest way to find Schedule K-1 in TurboTax Online is to find Tax Tools in the left column >> Tools >> Topic Search. Type in "schedule k-1", click the topic in the list, then Go. In TurboTax Desktop, use the Search box or Topic List found in the header.
- Choose the type of K-1 you need to work on (partnership/LLC).
- Add a new K-1 or Edit/Update the Schedule K-1 that relates to the new LLC.
- Work through the interview until you see the page "Describe the Partnership."
- Check the box for "I have passive activity losses carried over from last year."
- TurboTax will open a page where you can enter the passive losses for both regular and AMT tax.
- Continue through the interview until you return to the list of partnership/LLCs in your return.
@bobf5
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
