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Business & farm
To make this change you need to be in Forms Mode, which was implied when you said you were able to "scroll to the bottom" of the QBI worksheet. This is available only in TurboTax for Desktop. If you are working in TurboTax Online, you won't be able to change how the suspended loss is entered.
Here are the steps:
- Open your return and click the Forms icon in the TurboTax header.
- In the Forms list on the left, find "K-1 Partner" for the PTP you need to edit.
- Click the form name to open it in the large window.
- Scroll down to Page 8 (this appears on the right side of the form) and find Disallowed Passive Losses by Year and Type.
- Enter your 2021 passive loss carryover on Line M, Regular Tax column.
- The amount shown on Line A should now be zero.
- When finished, click Step-by-Step in the header to return to the main screens.
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March 20, 2023
5:55 AM