Can I manually update passive activity loss form 8582 in TT2016?

[hiflynfun]

I've tried the override but it does nothing. My previous accountant does not have each property broken out on form 8582 so I have no idea how to allocate the previous losses to each property. I just want to recreate 8582 to appear like the accountant did it. any Ideas?

[TaxGuyBill]

No, you can not manually enter information on Form 8582 in TurboTax.

You NEED to figure out the losses for each property separately, as that is needed when one of the properties is sold.  If the accountant lumped everything together, you DON'T want to recreate the 8582 to appear like the accountant did it.

[Anonymous · Accepted solution]

did the accountant report each property separately on schedule e for each year.  the schedules would then show the total loss and the allowed loss for each.  from that you should be able to figure out the unallowed losses for each. 

if this doesn't work you have several options,  

buy the TT cd's for 2016 and 2017 and redo your returns in sufficient detail so the suspended losses match for each year.  a lot of detail is not need totals in most cases will be enough

you could hire another person to redo them but this would be costly

again look at schedule e for 2016, was each property listed separately.  if yes ignore any that show a net profit.  prorate the suspended losses among the loss properties in proportion to the losses.  then do 2017.  

if the prior returns submitted by your  accountant  didn't contain the worksheets showing allocation of the suspended losses then the IRS is going to know either so anything reasonable probably won't cause you future problems.  

by the way did you contact the accountant to make sure he didn't have such worksheets. 

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