RobertB4444
Expert Alumni

Get your taxes done using TurboTax

Since it is a new activity it can't have prior year unallowed losses.  You'll need to recreate the old rental activity and add the unallowed losses through it.

 

First, create the rental.  Use the same information as last time but don't enter any assets to depreciate or any income or expenses.

 

When you get to the screen that asks "Do any of these situations apply to this property" click the box next to 'Carryovers' and 'I have passive activity real estate losses carried over from a prior year'.  On the next screen enter the losses as a negative number.

 

You can say that this activity ended in 2024 so that the losses can be added to the new activity and carried forward in the system.

 

@wlaurenc5555 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"