Thank you for sharing your token. It was very helpful to get a clearer understanding of your situation.
It's possible that you'd have a passive activity loss carryover and no at-risk loss carryover.
You'd have an at-risk loss carryover if the losses you've incurred on your rental property exceed your at-risk investment in the property.
For example: If you have $50,000 at-risk investment and have a $70,000 loss, you'd have $20,000 at-risk loss carryover until you either sold the property or made an additional at-risk investment.
The reason TurboTax is allowing a deduction of the full at-risk loss carryover you entered is because you've essentially told the program that you couldn't take these losses because you weren't at risk, and now you are at risk. If this were actually the case, you'd be able to deduct the carryover losses on this return (which would then be subject to passive activity loss rules).
It seems that you weren't actually able to take these losses in the past because of the passive activity loss rules, not the at-risk rules.
If your investment in the property has always been 100% at risk and your losses have never exceeded your at-risk investment, you shouldn't have any at-risk loss carryover since your losses would have never been limited by the at-risk rules. In this case, you can uncheck this box.
@VolvicNaturelle
