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In a prior return (not Turbotax) where can I find my at-risk losses for a rental real estate property? I'm wondering about Regular tax and QBI carryovers.

I've looked at Form 8582, specifically part VII (unallowed loss) but I'm not sure if that is correct and the distinction between regular tax and QBI carryovers. I'm doing this manually because I had professional tax prep for a few years but now I'm coming back to Turbotax.
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1 Reply
DavidD66
Expert Alumni

In a prior return (not Turbotax) where can I find my at-risk losses for a rental real estate property? I'm wondering about Regular tax and QBI carryovers.

You are looking in the right spot for your previous unhallowed passive losses from your rental property. Form 8582 Part VII.  As for QBI, 

Rental properties are usually treated as passive activities, and passive activities are excluded from the definition of a qualified trade or business. However, rentals that qualify as trades or businesses under IRC § 162 are not considered passive, which means they could potentially qualify for the QBI deduction.

 

For more information about QBI and rental property, see the following TurboTax Help Article:  Can I get the QBI deduction on rental income?

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