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Investors & landlords
Yes, unfortunately you'll have continued carry forward losses (you never know, maybe it'll be applicable in the future). TurboTax didn't change the description for me. I entered it as a new line (I left everything it populated and just added the new line with the description and depreciation). These are the steps I took (kept notes to remember in the future):
1. Added new Moronoy/Koch line to NJ-DOP with NJ depreciation from 2012-2021
2. Update the carryforward NJ-BUS-2 to less depreciation from 2012-2020
3. Update the 2021 losses on NJ-BUS-1 to remove 2021 year's depreciation
As long your numbers add up, TurboTax will "check" them and you can e-file (that's what I did).
‎April 2, 2022
9:51 AM