My rent costs exceed my rents received. Turbo tax reduced my depreciation so that line 21 = 0. Since I have a loss I need to show it so I can use it when I sell my home.

[mccollough4777]

How do I reflect my passive loss carryover so I can utilize it when I sell my home

[TaxGuyBill]

The program automatically carries Passive Loss Carryovers on Form 8582.  You don't need to do anything for the program to do that.

[mccollough4777]

It does not automatically carry it over. Does the version of Turbo Tax make a difference?

[TaxGuyBill]

Why do you think it is not carrying over?

Is the loss on your 2018 tax return?  Or 2017?
Does that year have a Form 8582?
When it asked for the number of rental days and number of personal days, did you enter any personal days?

[mccollough4777]

the loss is for 2018. I put in the personal days and the rental days for the year. I had the expenses for the rental but turbo tax allocated them based on the rental %. Also turbo tax did not carry any numbers to form 8582. I am guessing I need to upgrade to premier.

[TaxGuyBill]

You entered personal days.  Was this property 100% personal then converted to 100% rental?  Or was it back-and-forth between personal and rental use?

[mccollough4777]

It was 100% personal and then converted to rental.

[TaxGuyBill]

You need to go back to that screen and re-read it.  When it is converted to a rental, you enter the number of personal days AFTER it was converted to a rental. So you should enter ZERO personal days.

That should fix the problem, and the program with either allow the loss or carry it forward on Form 8582.  If you "actively participate" in the rental (which almost everybody does) and your total income is under $100,000, it should allow the loss on the current year tax return (up to $25,000).