topic Re: schedule E worksheet entry - passive operating loss+ amortization in Get your taxes done using TurboTax

schedule E worksheet entry - passive operating loss+ amortization

vs0001 — Mon, 24 Mar 2025 03:04:02 GMT

Hello:

When I run smartcheck , it flags me on the below -

the below info pertains to a property that was owned since 2023 & generated loss.

1) schedule E worksheet <xxx prop name> : passive operating loss must be entered
passive operating loss << box to enter amount>>
- asking to enter on schedule A smart worksheet 7(f) - i dont have sch A
2) schedule E worksheet <xxx prop name> : QBI passive operating loss must be entered -

Looking at the worksheet, I see that it did not carry over the figures from last year.

Also - what is the criteria used by turbotax for generating Loss & amortization worksheet - & AMT depreciation report - is there an age for the property that used to calculate this ? thanks.

Re: schedule E worksheet entry - passive operating loss+ amortization

PatriciaV — Wed, 26 Mar 2025 16:17:31 GMT

If you have the Schedule E worksheet for this property from last year, you can enter the passive loss carryover (if any) reported on the Carryovers to 2024 table on that form. It's possible that TurboTax didn't transfer that information from last year.

In most cases, entering a zero for these form errors will resolve the issues.

The Depreciation and Amortization Report is included for any activity with depreciable assets. The AMT version is usually included as well, even if you're not subject to AMT this year.

Re: schedule E worksheet entry - passive operating loss+ amortization

vs0001 — Wed, 26 Mar 2025 19:08:21 GMT

thank you - as I mentioned the rental prop is not showing up in this report. Can you pl. let me know what to check on Sch E or other worksheet to include this ? It was showing up before but it stopped the last 2 years. thanks

Re: schedule E worksheet entry - passive operating loss+ amortization

PatriciaV — Wed, 26 Mar 2025 19:41:13 GMT

Here is the header of the Schedule E Worksheet you need. Look for the Carryovers to 20XX Smart Worksheet that appears after the QBI section that is below Line 22.

You may be able to retrieve this worksheet if you used TurboTax Online the last time the property was included on your return. To do this, follow these steps.

Sign into TurboTax.

On the page "let's keep working on your taxes", scroll down to Your tax returns & documents.
Use the dropdown arrow and select the year you want to preview.
Select the Amend (change) return dropdown. Note: You aren't actually amending the return. This option allows you to access all the forms and worksheets in order to print them in the PDF.
If you filed using TurboTax, choose Amend using TurboTax Online. (You may see a different message if you didn't file with TurboTax Online last year.)
On the next screen, look to the tool bar on the left side of the window. There should be an option for "Tax Tools." Click this to expand options, then click "Print Center."
Click "Print, save or preview this year's return."
Select the checkbox for Federal return (and any other return you want to save), plus the option to "Include government and TurboTax worksheets (optional)."

Your other option is to find Form 8582 and Form 8582-AMT either in last year's return or in the last return that reported this property. Unallowed losses (carryovers) are shown in Part IV column (c). These numbers are the total carryover amounts and aren't broken down by year.

Re: schedule E worksheet entry - passive operating loss+ amortization

vs0001 — Thu, 27 Mar 2025 00:13:54 GMT

thank you for the detailed reply. much appreciated