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Form 8582 - NOT TAKING THE LOSSES
Hi. I have rental properties that have losses. Turbo tax is doing everything correctly. On my form 8582 Part II it shows that I can take about $20k of losses from this year's income. This is correct. HOWEVER, I don't want to take the losses against income this year. My tax rate this year is going to be 10% so the $20k in losses saves me $2k. For next year's tax return I will sell my rental property and have a capital gain taxed at 15% so that tax savings from not using the $20k in losses this year and carrying forward this loss against the capital gain next year's taxes will save $3k (15% of $20k carry forward). How do I get turbo task desktop to not take the losses that it is allowing on Form 8582 Part II. Thank you.
March 17, 2025
12:14 AM