PatriciaV
Expert Alumni

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.

  1. Work through the interview until you see the page "Describe the Partnership." 
  2. Check the box for "I have passive activity losses carried over from last year."
  3. Continue through the next screens where you can enter/edit passive losses for both regular and AMT tax and QBI.
  4. Continue through the interview until you return to the list of partnership/LLCs in your return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post