Real Estate passive loss

[SteveMiller97]

I can't seem to enter a passive real estate loss for 2021, just a carryover loss for 2020.

What am I doing wrong?   My AGI is less than 100K, so I should be able to do it.   Thanks.

[Mike9241]

for 2021 you need to enter into schedule E the activity. the worksheet should contain the prior year PAL c/o. form 8582 may not yet be ready and that may be what's causing your issue.

[SteveMiller97]

Thanks for the quick reply.  I just started renting the house last year, so no carryover PAL.  I can open Form 8582, but can't edit any of the fields.  Can Intuit confirm that the form isn't ready yet?

[AmeliesUncle]

Just to confirm, your rental is showing a loss, right?

Did you enter any personal days for the rental?

Did you say that you "Actively Participate" in the rental?

[SteveMiller97]

Thanks for the reply.

Yes, the rental showed a loss.

No personal days.

Yes, active participant.

I was able to enter the 18K loss on Schedule E, but it didn't show up on Form 8582.

[AmeliesUncle]

You don't need a 8582.  You had no carryover loss, your income is under $100,000 and you are using the full loss this year.  Why are you wanting a 8582?

[SteveMiller97]

I thought that the 8582 was used to figure out the loss.

So, the only way to show the loss on Schedule E was to override line 22.  Is that correct?

[AmeliesUncle · Accepted solution]

There is no need to override anything.  You should be able to just enter your rental expenses and it should subtract those expenses from your rental income and it should show the loss.

[SteveMiller97]

Ok, so silly question:

What if you don't rent out your house for a few months, how do you report that loss?  Or is that not a loss?

[DoninGA · Accepted solution]

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@SteveMiller97 wrote:

Ok, so silly question:

What if you don't rent out your house for a few months, how do you report that loss?  Or is that not a loss?

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Loss of income on a rental property cannot be entered as an expense or any other type of deduction.  

[SteveMiller97]

OK, thanks.   I appreciate the reply.