Solved: Where does one report passive carryover on rental property upon its sale?
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

Where does one report passive carryover on rental property upon its sale?

Taxpayer sold rental property with passive activity loss limitations previously reported on Form 8582. Property sold in 2018. 

1 Best answer

Accepted Solutions
Highlighted
New Member

Where does one report passive carryover on rental property upon its sale?

If you override, you will not be able to e-fie.  

In  Forms mode (click the Forms icon in the upper right), open a  Schedule E Worksheet, page 1, on the left, and fill it in for this property.  On that Schedule Worksheet, Scroll down to  the Carryovers to 2018 Smart Worksheet, Schedule E Suspended Loss and enter it there.  

You would really do best by entering all your information in the rental interview under Wages and Income.  Going  through the interview, you would need to say the property was rented for at least one day in 2018.  You would also check boxes for having sold the property and having disallowed losses.  Sale detail is entered by editing each asset from the asset summary.

View solution in original post

3 Replies
Highlighted
New Member

Where does one report passive carryover on rental property upon its sale?

Were prior years when loss generated done in TurboTax.
Highlighted
New Member

Where does one report passive carryover on rental property upon its sale?

Unfortunately no. I’ve added 2017 Form 8582 Amt to 2018 line 21 sch E loss and override combined total to line 22 that then flows to Sch 1.
Highlighted
New Member

Where does one report passive carryover on rental property upon its sale?

If you override, you will not be able to e-fie.  

In  Forms mode (click the Forms icon in the upper right), open a  Schedule E Worksheet, page 1, on the left, and fill it in for this property.  On that Schedule Worksheet, Scroll down to  the Carryovers to 2018 Smart Worksheet, Schedule E Suspended Loss and enter it there.  

You would really do best by entering all your information in the rental interview under Wages and Income.  Going  through the interview, you would need to say the property was rented for at least one day in 2018.  You would also check boxes for having sold the property and having disallowed losses.  Sale detail is entered by editing each asset from the asset summary.

View solution in original post

Privacy Settings