turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Anonymous
Not applicable

Passive Activity losses on sale of rental property (form 593)

This is for sale of rental property, which upon close requires filing the Real Estate Withholding Statement (CA form 593).   In the calculations section, it asks for "any suspended passive activity losses from this property." 

Is the losses based on actual yearly losses or can be found in TurboTax forms/worksheets? 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Passive Activity losses on sale of rental property (form 593)

If you have a PAL carrying on the books look for the form 8582 in the prior year return. 

Anonymous
Not applicable

Passive Activity losses on sale of rental property (form 593)

Thank you for pointing that out. I checked and there is a PAL amount in Part II of 8582, so is that the amount or  should I be looking in the bottom of the form, Part IV "Total Losses Allowed"?

Passive Activity losses on sale of rental property (form 593)

Actually you are looking for the unallowed losses that are carrying forward ... page 2  worksheet 5. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies