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mich_chan
New Member

Is the amount on my last year's form 8582 line 4 the passive activity loss carryover amount I should apply to this year's tax return?

I'm looking for my rental's loss carryover amount. My last year's tax return only contains 1 page of Form 8582, and not the worksheets described in other posts. Is the number on line 4 of 8582 the amount I can apply to this year's tax return as the loss carryover amount?
1 Reply
DanO
New Member

Is the amount on my last year's form 8582 line 4 the passive activity loss carryover amount I should apply to this year's tax return?

Yes, this is what you would carryover, it is your passive activity loss.

You can enter this by:

  • Sign into TurboTax
  • Click on Take me to my return
  • Click on Federal in left column
  • Click on Rentals, Royalties, and Farm and click on Show more and click Start/Revisit
  • Income from Rentals or Royalty Property You Own - Yes
  • Edit you rental property and click on Property Profile Update button
  • Go through interview and you will see Carryovers
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