No, this is not limited in the year of disposition or sale. In this final year of the property the full suspended loss is used.
To record this passive loss carryforward, if it is not carried forward automatically in TurboTax follow these instructions.
- 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
- TurboTax CD/Download version: Continue until you reach the screen entitled Do any of these situations apply to this property?
- Scroll to the bottom and check the box next to I have passive activity real estate losses carried over from a prior year
- TurboTax Online version: Scroll to Less Common Situations > Click Edit next to Carryovers, limitations, at risk info, etc.
- Click Continue
- You'll be able to input the carryover amounts on the next screen
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
