I have passive losses from prior years on a rental property and now have a profit. Where do I enter the carryover losses to offset the gain?

[Anonymous_ · Accepted solution]

"Where do I enter the carryover losses to offset the gain?"

In the Property Profile area of the Rentals section. 

[Mike9241]

if you used TT in prior years the loss carryover should have transferred and be reflected in that section of schedule E.  if current year rental income exceeds the PAL carryover schedule E  on line 22 should reflect the net. if PAL carryover exceeds current year income line 22 could be $0 but if your Adjusted gross income is less than $150,000 you may be allowed a special PAL loss up to $25,000. carefully review form 8582 where the allowable amount of loss carryforward is calculated.