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did not enter passive loss carryover in past California tax returns
In doing my 2024 California tax return, I realized that the passive loss carry over from rental property was not automatically put in by turbo tax from my federal tax return. I then realized that my past CA returns were incorrect because of this. When I entered the accumulated amount ($119,000) in Form 3801 for tax year 2024, it then showed as a huge business loss for this year with a large tax refund. Should I go back and amend past CA returns or just keep it as is for 2024 return.
March 30, 2025
10:18 AM