Part I of Line 1c of Form 8582 in my 2024 return is showing total prior years unallowed losses of ($81,096) which does not seem correct as the total unallowed losses from my 2023 return (which was not in TT as my accountant did the return) is ($60,855) and that is the number I entered into TT under the QBI carryover losses and the number showing up in both the total column for QBI Deduction and QBI Losses.
.The difference between the ($81,096) and ($60,855) is ($20,241). Oddly enough the total 2023 short term capital loss from Schedule D is ($20,241). I did not add this in any place in the rental income section in Turbo tax as I understand Schedule D as it pertains to active losses does not apply to rental passive losses.
I am totally confused on first where the $81, 096 came from (as I never entered this) and then why the additional loss of $20,241 ties into my capital gain loss which I used in 2024 so it can’t carry over plus it doesn’t belong in this section of the return even if it could carry over.
I have gone over this section so many times and it’s very confusing! Please help.
thank you.
You may need to review Part IV of Form 8582 to determine what individual amounts were used to calculate the total you see. Confirm the entries you made for each property are reported correctly on this form.
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