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Get your taxes done using TurboTax
Prior year carryovers should transfer when you start a current year return, regardless of rules that may limit how those losses are applied.
To correct this, return to the Schedule K-1 for the MLP.
- 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."
- Continue through the next screens where you can enter/edit passive losses for both regular and AMT tax and QBI.
- Continue through the interview until you return to the list of partnership/LLCs in your return.
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March 18, 2025
6:34 AM
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