Thank you for providing the 2023 and 2024 token files. I did a thorough examination of your 2023 and 2024 returns to see the information that was carried forward from 2023 to populate the 2024 return. I could see the error that was described in your question on the second rental property shown in your list of forms. I could also see two additional errors that I will discuss below.
Next, I took your 2023 return and imported it into the 2024 program to see if the errors were brought forward from 2023, or if they were generated another way. In my 'new' 2024 return, there were no errors in the carryover information for any of the three rental properties.
However, there had been at least a week between the time you sent your 2024 token file and when I created the 'new' 2024 return. This means that there had been at least one program update released in that gap of time. My belief is that the program update solved the carryover issue since it did not appear in the 2024 tax return I created from your 2023 file.
So, I can tell from looking at the 2024 token that you have already entered a lot of information into your return and you may not want to start from scratch, so I'll outline the steps for you to take to solve the errors that currently exist. These errors will be brought to your attention by going through the Smart Check process:
- For the error highlighting the -15k value that you mention in your question, delete the entry.
- For the next error saying Passive Operating Loss must be entered, showing a -17k value on the 2022 line, but zero on the 2023 line, enter the -17k number to the 2023 line and delete it from 2022 (replace with zero).
- For the next error, it is the same situation as item 2, except the value is -7k. Move it to 2023 and put zero beside 2022.
If you are curious, you can start a new 2024 return by importing your 2023 tax data file and then take a look at each individual property's carryover worksheet information to see if the errors have disappeared. Just be careful not to save this new 2024 return without using Save As to change the default name. Otherwise you could overwrite the return you are working on already.
If you do take this step to create a new return, I would appreciate some feedback to know whether or not the errors were gone.
@amyonghwee
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