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Passive Loss Carryforwards
I'm using Turbo Tax Premier to complete my 2024 Federal return. Turbo Tax is reporting a Passive Loss Carryforward from prior to 2018 related to a rental property. The thing is that I didn't purchase the property until 2021. Furthermore, this Carryforward did not appear in my 2021, 2022 or 2023 returns all of which were completed using Turbo Tax. This appears to be a bust in the program.
March 15, 2025
8:35 AM