2324444
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?
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If you have a PAL carrying on the books look for the form 8582 in the prior year return.
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"?
Actually you are looking for the unallowed losses that are carrying forward ... page 2 worksheet 5.
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