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Level 1
June 6, 2019
Question

Need to talk to someone on Form 8582

Somehow I have not noticed that Form 8582 has not been generated to carry forward excess losses on a rental property.  I don't know what I did to get it coded "Passive"...help please.  Or maybe it isn't that problem??

1 reply

Level 8
June 6, 2019

Generally Residential rental property is a  passive activity.If you marked you were   "active participation "Turbotax generally does all the necessary worksheets and carryforth for the passive activity that were not used against the passive income for that taxable year..