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