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I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

I answered that I sold the property. It still does not deduct the suspended loss. 

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12 Replies
Anita01
New Member

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

If you used TurboTax in prior years, and are now entering the sale information in the rental interview, TurboTax will do this automatically.  Make sure you checked that you sold or disposed of the property on one of the first screens in the interview then stay in the rental interview to enter your sale information.  Do not enter anything under Sale of Home.  If you did not use TurboTax in the past, you will be asked about disallowed losses in the interview for the sale information.

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

I entered that I sold the property on one of the first screens but it still does not deduct the suspended loss.
Anita01
New Member

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

The suspended loss is not included in the operating gain or loss on line 17 of the 1040?  It's not deducted from your capital gain and does not increase your capital loss.  To see your 1040, go to Tools on the left, click see tax Summary.  Once the Summary is up, select to see your 1040?

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

It should show up in total rental loss, but it does not

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

How can I go back to the original interview questions to check my answers.
Anita01
New Member

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

jt's not on line 17?

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

No.
Anita01
New Member

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

Enter Schedule E in the Search box on the upper right and then click the Jump To.  Was this a fully taxable sale, not a gift or other disposition?

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

I am at the tax summary but do not see how to jump to the sch e
Anita01
New Member

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

You would choose to go to the 1040 on the left from the Tax Summary to see your line 17 loss, but to get back to the interview, you would enter Schedule E in the search (Find) box on the upper right, then click the Jump To.

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

I got the suspended loss to be properly reported now how do I view the AMT calcualtion
Anita01
New Member

I sold rental property. How do I get turbo tax to include the prior year suspended loss carryover on Sch. E?

For this one property, you'd have to look at the/Asset Entry Worksheet or the 8949 or capital gains worksheet but you can't see those until you pay and print.Same with the 6251 worksheet for AMT.
With the Desktop CD/Download version you can see forms at any time but no the online web version.
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