Hi,
See attached screen shot. I did not file my taxes on Turbo Tax last year (2019), but have passive loss carryovers reported on my 2019 return from a K1 - I need to carry these over to my 2020 return. I'm trying to figure out which forms and cells on the previous years tax return populate "Box 1 Ordinary Income" and "Box 2a Ordinary Income" on the passive loss carryovers page of Turbo Tax. Any help would be greatly appreciated.
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IRS Form 8582. If you don't have that in your 2019 taxes, then you didn't have any suspended losses to carry over.
I have form 8582 with carryovers, what specific cells should I bring over to populate "Box 1ordinary income" and "Box 2a - ordinary income"? @Carl
Line 7
@Carl Line 7 is modified gross income, there is nothing listed there.
It must be somewhere in section 3 that highlights passive losses - this is driven by worksheets 1-6
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