Thank you for the response Carl. I did not have an input for this property under schedule E, since it was not rented in 2020. I also did not have it on Sch E for 2018 and 2019, since I stopped renting the basement as of 2018. I tried adding my primary home that I sold in 2020 to Sch E and here is what I run into:
1. I selected that I sold the property. When I got to the page to input "Passive Losses from Prior Year," it has three boxes -- Schedule E regular tax Carryovers, AMT Carryovers, and QBI carryovers. My carry over losses from as well as the portion un-allowed up until 2017 are shown on form 8582 worksheet, not Sch E. Sch E only shows the amount allowed to be deducted for 2017. Please verify that it's the 8582 carryover amount that I need to input here. And do I have to put in AMT and QBI carryovers as well? I really don't know where to find those figures.
2. When I clicked through to the last page where it asked, "Was This Property Rented for All of 2020?" I had to select "I did not rent, nor attempt to rent, this property at all in 2020" because as I mentioned, I stopped renting my basement since 2018. It then showed a message saying "since this property was not a rental at all in 2020, you should delete it as a rental. Make sure to keep your complete return, including the Depreciation Report for this property, from 2019 (or the last year this property was used as a rental). And when I clicked "continue," Turbo Tax removed this from Schedule E that I just inputted entirely.
Please advise what I should do in this case. Were you suggesting that TurboTax is not capable to handling my situation properly and that I should seek other tax filing venue? Thank you very much!
