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How to modify Passive loss Carryover from previous years?

I lost my tax file for 2018, so i had to manually input all the rental properties information for my 2019 return last year. I found I forgot to input the passive loss carryover from the previous years for the 2019 return. How can I make this up this year and correct the entry? Can I just simply put the total numbers in 2019 carryover?

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4 Replies

How to modify Passive loss Carryover from previous years?

Amend the 2019 return to get the correct carryover amount to the 2020 return ... you cannot just use the 2018 figure. 

Carl
Level 15

How to modify Passive loss Carryover from previous years?

YOu will have to amend. You can not use a 2018 carryover on your 2020 taxes. If you did not use the 2018 carry over on your 2019 tax return and you do not amend, then you just lose that carry over amount permanently.

How to modify Passive loss Carryover from previous years?

If I need to file amendment for 2019, what should I do with my 2020 one? I am about to file it before the extended deadline in a few days. 

How to modify Passive loss Carryover from previous years?

You must COMPUTE  the amended 2019 return BERORE you file the 2020 return so you know the amount to carryforward from 2019 to the 2020 return. 

 

You do not need to mail in the amended return before you file the 2020 return  and  it doesn't need to be processed by the IRS either.  

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