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Level 4
January 21, 2022
Question

rental loss deduction

  • January 21, 2022
  • 1 reply
  • 14 views

Hi where on turbo tax I can find the following information

1, rental loss that not allowed to deduct on current year?

2, rental loss that I can carry forward from previous years?

thanks

 

Also have another question

can I file 3115 on TurboTAX?

thanks

    1 reply

    Carl
    Level 11
    Level 11
    January 21, 2022

    carry forward/loss information is on the IRS Form 8852.

    The TTX program does include the 3115. Don't know if you can e-file it or not though. The 3115 is "NOT" simple by any stretch. For whatever you need it for (depreciation correction I suspect?) you should seek professional help. Doing this form wrong will be many times more costly than not correcting your accounting method error at all.

     

    Level 15
    January 21, 2022

    Form 3115 e-file is not supported. However, as mentioned, you should seek guidance from a tax professional.