Final responses:
- I am not recommending that you adjust Schedule A line 13 column A either. It is column B that may need to be adjusted.
- Having said that, I can't see your return to understand what TT is reflecting; or how they are arriving at the amounts being reported.
- These types of multi-state scenarios with passive activity carryovers, are not the usual return that TT is focused on. As a result you will need to adjust manually.
- I would make the adjustment on line 20 column B.
- As recommended previously, I would then include a statement to track your Indiana passive loss carryover from 2020, what was utilized in 2021, and then carried over to 2022; unless the statement you are referencing is arriving at the correct amount.
- Don't make any adjustments to column A. TT should be handling this correctly.
- The only statement that you need to attach is the explanation of the adjustment on line 20 column B; which is utilizing the Indiana passive loss carryover amount available. Nothing more.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
