I have had a rental property for past 2 years and had passive rental loss income for past 2 years. I sold my property in 2018 and wanted to enter passive rental loss carryover from prior years in TurboTax Premier.
I got similar question which directed below steps. However I am unable to find step 4 - Show More icon in TurboTax Premier. Therefore I am unable to do next steps.
To enter Passive Activity Loss Carryovers from a Prior Year for your Rental Property in TurboTax Premier:
- Click the Federal Taxes tab
- Click Wages & Income
- Scroll down to the Rental Properties and Royalties section
- Click the blue Show More in this section
- Click Start (or Revisit) next to Rental Properties and Royalties (Sch E)
- Click Yes
- Click Continue
- Click the blue Edit button next to the rental you'd like to add info for
- Click Continue until you reach the screen entitled Do any of these situations apply to this property?
- Scroll to the bottom of this page and check the box next to I have passive activity real estate losses carried over from a prior year. (see first attachment for reference)
- Click Continue
- You'll be able to input the carry over amounts on the next screen (see second attachment for reference
