The 2021 passive loss carryover was not carried forward, how do I enter it?

[JohnB5677]

You will have to post it to the 2022 tax return before you can carry it to the 2023.

See below if you have to amend the 1022 return.

To post the passive loss:

Sign in to TurboTax 

1. Under Federal
2. Select Wages & Income,
3. Scroll to Other Business Situations.
4. Select Net Operating Loss/QBI Carryforward Loss.

For more information see: How do I report a business loss or carryover from my K-1?

To amend the 2022 tax return

Sign in to TurboTax

1. On the home screen, scroll down to Your tax returns & documents and
2. select the year you want to amend
3. Select Amend (change) return, then
4. Amend using TurboTax Online
   1. If you're told to amend your return via TurboTax Desktop, follow the steps for TurboTax CD/Download below instead.
5. On the screen OK, let's get a kickstart on your amended return, select the reason(s) you're amending and Continue.
6. When you reach Here's the info for your amended federal return, select Start next to the info you need to change.
7. Continue through the screens, make the changes you need to make, and carefully answer the remaining questions to finish amending your return.

Please contact us again with any additional questions or to provide some additional details.

[VolvoGirl]

It should have been carried over to your 2022 return.  Did you transfer from 2022 to start 2023?  Maybe it used it up in 2022?  You get to first offset the loss against any gains you have each year so that can use more of it up. Then after applying the loss to the current gains if there is still a loss, you can take a max loss of 3,000 per year. 

You have to report the carryover every year until it's used up. You can't skip a year. Even if you don't report it on your return you have to reduce it by the 3,000 (1,500 MFS) when you carry it over to next year. You can't choose when to use it.