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tb20182801
Returning Member

The rent property had loss last year, but not for rent this year. How do I enter the carryover loss in TT this year since I have other rent properties have gain?

 
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4 Replies
ColeenD3
Expert Alumni

The rent property had loss last year, but not for rent this year. How do I enter the carryover loss in TT this year since I have other rent properties have gain?

If you did not rent the property in 2019, you enter nothing in the rental section. Keep track of the depreciation and passive losses from the past in your own records.

The rent property had loss last year, but not for rent this year. How do I enter the carryover loss in TT this year since I have other rent properties have gain?

I didn't provide my rent for 2019 because I didn't know where I was to put that in ..

RDR1
New Member

The rent property had loss last year, but not for rent this year. How do I enter the carryover loss in TT this year since I have other rent properties have gain?

Last year we had about $34,900 in passive losses on our rental property, but we couldn't deduct it because our modified gross income  exceeded $150000.  This year it doesn't.  How do I carry over the 2018 loss into 2019 TT?

KarenJ2
Expert Alumni

The rent property had loss last year, but not for rent this year. How do I enter the carryover loss in TT this year since I have other rent properties have gain?

To Enter Passive Loss Carryovers:

 

  1. Enter rental property in the Search box at the top of your screen and click Jump to
  2.  Click on  the Property Profile which provides information about your rental property
  3. On the third screen you will see at the top of the page, Do Any of These Situations Apply to This Property? Check the box under Carryovers that you have passive activity real estate losses carried over from prior year
  4. On the next screen, enter your Passive Losses from Prior Years

 

 

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