I am assisting my relative with their taxes as their preparer died unexpectedly last year. I could not get an electric copy of their data so I had to enter all the data manually (soooooooooooooo much fun!!). I found that I could not locate the carryover unallowed losses data and where to enter it. Help!
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What is the origin of the passive loss?
It could be entered in the K-1 section or the Rentals section.
generally, passive loss carryovers and any allowance would be on form 8582 (also possibly 8582-AMT) and related worksheets. however, for publicly traded partnerships any PAL would likely be only in the computer records of the preparer. Not knowing what app the preparer used, I can't say whether or not the taxpayer's copy of the return would have such data. the IRS certainly does not.
using Turbotax when you get to the business/rental activity there will be questions about PAL and places to enter the information.
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