Will turbo tax keep track of rental property losses, and automatically include them in the analysis for the following year return?

[bg1124]

will turbo tax keep track of rental property losses, and automatically include them in the analysis for the following year return?

[PatriciaV · Accepted solution]

Yes, if you use TurboTax next year, any Passive Loss Carryovers from Rental activities will be carried forward to your return.

Your Passive Loss Carryovers appear on Schedule E Wks on the final page: Carryforward to 20XX Smart Worksheet (see screenshot #1 below - click to enlarge). This is a TurboTax supplemental schedule and not an IRS form.

Be sure you download a complete copy of your current tax return (including all forms, schedules, and worksheets) and store in a safe place.