3451138
It asks me to key in a number which is not easy to find on my previous year's Turbotax worksheets/forms
You'll need to sign in or create an account to connect with an expert.
You can find your prior year passive loss carryover on Form 8582 and its corresponding worksheets. To locate this form:
Okay, let's talk specifics. On Form 8582, which Part ? and then exactly which column?
Form 8582, Page 2, Part VII Allocation of Unallowed Losses, column (c). Your passive loss carryover will be listed by property. Make sure to enter them into your 2024 return by property.
Form 8995 is used for QBI. You can find the carryforward for rental income next to the bottom line as total qualified business loss carryforward. One number in one column.
Seems ridiculous that TurboTax can't do this itself, so I assume it's a bug. Is it going to be fixed anytime soon? If so, I'll just wait for the update.
I also have the same problem about this topic. Based on the previous answer in forum, I entered the historical operating loss, but the error shows up and tell me that "amounts for each year should add up to no more than the total". The total in the system is the carryover loss in my 2023 tax return, but my 5 years loss is higher than my 2023 data. I cannot change the "total" number which is populated by the system? Anything wrong?
When you run Smart Check, TurboTax will present a section of Schedule E Worksheet Carryovers to 2024 Smart Worksheet, Disallowed Passive Losses by Year and Type. For some properties, the carryovers are out of sequence. For instance, 2022 is on the 2021 line. Or the 2023 number is on the 2022 line.
NOTE: Please use the Chrome browser to access this table when running Smart Check.
To fix this, enter the correct number starting with the most recent year. Then move up the schedule until all years are correct. This may be easier if you can access your 2023 return and print the Schedule E worksheet.
We are not aware of an estimated date for this experience to be revised. The ultimate fix is to 1) clear and start over in TurboTax Online or 2) transfer your 2023 return into a new 2024 return using TurboTax for Desktop.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
mbin
New Member
truckmassey
Level 2
ahaunschild
New Member
turbotax3
Level 2
alexjlouie2003
Level 2