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Deductions & credits
Passive Loss Carryovers from a partnership are reported during the Schedule K-1 interview.
Check the box for "I have passive activity losses carried over from last year" on the page titled "Describe the Partnership" after entering the info from the individual boxes.
Continue through the interview until you see the page titled "Report Carryovers - Regular Tax". This is where you report the passive loss carryover by income category. Subsequent screens allow you to enter other carryovers, and AMT carryovers.
TurboTax will carry over your losses until they are completely matched with passive gains.
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March 12, 2024
7:48 AM