Passive 4797 loss

[mr_jing]

During TurboTax check, it wants me to enter Schedule E worksheet: passive 4797 i/t loss must be entered.

It shows the history of 2021 and 2022, but 2033 is blank and needs inputs "Operating loss" and "Form 4797 long term loss", under the regular tax column. The QBI column is populated by TT already.

What are these and where do I find them?

[mr_jing]

Saw another post that this might be related to selling business assets. I sold a car used in business in 2023. No asset sales in 2024. 

So where do I pull the info from the 2023 tax return and fill into 2024 TT? The past decade's taxes were all done using TT, in case that is relevant.

[mr_jing]

Could anyone take a look at the question? Much appreciated!

[DianeW777]

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions:  (Don't forget to give us the state)

TurboTax Online:

Open your return -Go to the menu panel on the left side of your return and select Tax Tools. 

1. Then select Tools below Tax Tools. 
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent. 
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
5. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information.  

TurboTax Desktop:

If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:

1. Click on Online in the top left menu of TurboTax CD/Download for Windows
2. Select 'Send Tax File to Agent'
3. Write down or send an image of your token number and state then place in this issue.
4. We can then review your exact scenario for a solution.
5. Please also tell us any states included in the return. This is necessary for us to view the return.

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.