During the Rental interview, TurboTax asks Do any of these situations apply to this property? Scroll down under Carryovers and select I have passive activity real estate losses carried over from a prior year. (Click the screenshot below for reference.) Be sure to click the Learn More link for assistance.
To get to this screen in TurboTax Online:
- Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click Tax Tools (lower left side of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the I'm looking for: box, type rental.
- In the results box, highlight rental (schedule e), then click GO.
- You'll land on Income from rentals or royalty property you own. Click Yes.
- Continue following the onscreen instructions. When you get to the Rental and Royalty Summary, click Edit next to your property.
- Under Review Your Rental Summary, click Start/Update next to Property Profile.
- Continue following the onscreen instructions and advancing through the screens. You'll be able to check the carryover box when you get to Do any of these situations apply to this property?
- Later in the rental interview, you'll be prompted to enter your passive losses from prior years. (Click the second screenshot below.)
