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Business & farm
Hello Thank you Patricia,
Hello Patricia, Thank you for your answer.
I chose to download TurboTax desktop version.
And I did manually enter the operating loss for each and every year for the "Carryovers to 2024 Smart WorkSheet". I took the numbers from the prior year tax returns, all done with TurboTax online version.
All losses were after 2018.
But it is still not accepting it. Under the "Disallowed passive Losses by Year and Type", in the Before 2018 Operating Loss, it should be zero, but Turbotax puts a positive number there. That number is the difference between some total loss turbotax came up with (i dont know where from) and all losses after 2020 I entered into the form manually from the previous tax returns.
At this point i think my option is to ignore this, but I do not know the tax implications of it, once I will decide to sell the property I am renting.