Rental Property: "Enter Nondeductible Expenses from Prior Year"

[writermom3]

I'm very confused by this TurboTax screen for "Nondeductible Expenses from Prior Year." I have a short-term vacation rental that we use on occasion but rent out short term. I have located Form 8582 from my prior year but I don't understand which numbers go where. TurboTax 2023 screen asks for operating expenses, depreciation expenses, AMT expenses, AMT depreciation expenses. Yet Form 8582 from 2022 doesn't specify these expenses.  Can anyone help me?

I'm using desktop Mac version of Home and Business.

TurboTax 2023 screenLast year's unallowed loss

[DaveF1006]

To clarify, are there losses listed on your 2022 return listed anywhere in Part 1 or Part's 1V-V111? If so, what are they?

[writermom3]

On 2022 tax return, form 8582, it has the following:

Part 1:

1a: 0

1b: 2,930.

1c: 43,098.

     1d: -46,028

       3: -46,028

Part 5: nothing there

Part 6: nothing there

Part 7: 

(c): unallowed loss: $46,028

Part 8:

(c) allowed loss: 0

[DaveF1006]

Yes, report $46,028 in the first box under operating expenses. 

[jessikksd-icloud]

I have  similar question about my 2022 nondeductible expenses from prior year for my rental property and I do have a loss in 2022 but am not clear what number to put. from worksheet 8582. 

Part I:

line

1a 0

1b 50,7077

1c nothing

Part 2:

4 50,707

line 8  6,467

line 9  6,467

Part 3 

line 10 = 0

line 11 6,467

Part 4

(a) 0

(b) 50,707

(c) nothing

(d) nothing

(e) loss

Part 5 

nothing

Part 6

(a) 50,707

(c) 6,467

(d) 44, 240

Part 7

(a) 44,240

(c) 44,240

Part 8

(a) 50,707

(b) 44,240

(c) 6,467

[jessikksd-icloud]

this is my info from parts 1-VIII of form 8582 for 2022 return

[DaveF1006]

Your total unallowed losses from 2022 is $6467 as reported on line 11 on the 8582.

[jessikksd-icloud]

That does not look correct and looks like the opposite number of what should be carried forward. 6467 is my total allowed losses from tax year 2022. 

44,240 are the unallowed passive losses from 2022.

50,707 were total losses on schedule E for rental property in 2022, and due to my MAGI I was only able to deduct 6,467 so 44,240 were unallowed that year and should be carried forward. Can you confirm this or explain why that is wrong?

[jessikksd-icloud]

Here are screen shot [PII Removed]

[jessikksd-icloud]

[DaveF1006]

This is my mistake. You are correct. Since your total losses in 2022 were $50,707 and your allowable losses are $6467, you unallowed losses should be $50,707-6467= $44,240. 

I apologize for the misinformation.

@jessikksd-icloud 

[jessikksd-icloud]

Thank you Dave,

I seem to be having trouble still. I am getting these 2 screens after I go through final steps when turbo tax reviews details. 

second screenshotfirst screenshot

[jessikksd-icloud]

This is form 8995 for QBI 

[jessikksd-icloud]

This QBI total of 15,456 looks like it combines my allowable losses for the rental property of 6467 and 8989 for a 1099 job in 2022

[jessikksd-icloud]

Basically I can tell something is wrong here with how these numbers are input