Rental Business - Schedule E
2018 = Operating Loss 14k (Couldn't deduct because income over 150k... so carrying 14k to 2019)
2019 = Operating Loss 2k (Couldn't deduct .. so carrying 16k to 2020)
2020 = Operating Loss was $500 (Couldn't deduct ... so now caring 16.5k to 2021)
In my Schedule E and Rental Worksheets, it states there is $16.5 k of Passive Disallowed Loss, also referred to Unallowed Loss... so I planning to simply carry forward...
BUT, I noticed a section in TurboTax Business Tab called "Net Operating Loss" where I could simply add 16.5k. I also found an article referring to new exceptions under the CARE Act 2020. QUESTION: Can I actually add 16.5k loss to the NOL section? ... or NOL can not be used for Rental Passive Disallowed Losses?
Hope this helps.
