topic Schedule E worksheet missing info for Passive Operating Loss in Deductions & credits

Schedule E worksheet missing info for Passive Operating Loss

Cat_Sushi — Sun, 16 Feb 2025 20:23:03 GMT

I was about done with Fed taxes but an error/missing info popped up for Schedule E for Passive operating loss. Line S for 2023 is missing info on column Regular Tax. This is the "Carryovers to 2024".

Is there a reason TurboTax doesn't auto calculate this for me? How do I calculate this?

Regular Tax | QBI

2022 line P Operating loss -$37K | -$85K

2023 line S Operating loss (blank to fill) | -$37K

Should the (blank to fill) be Zero? My operating loss in 2024 is $20K, but doesn't seem right to add that there since it's for 2023?

Re: Schedule E worksheet missing info for Passive Operating Loss

BudgetGuy — Sun, 16 Feb 2025 21:02:22 GMT

Same problem. I use TurboTax every year. Why doesn’t it tell me how much my carry forward operating loss was from prior year?

Re: Schedule E worksheet missing info for Passive Operating Loss

Cat_Sushi — Sun, 16 Feb 2025 21:15:35 GMT

Yes, it's also odd that the 2022 line P for "regular tax" is the exact same number as 2023 line S "QBI" number.

So Line S 2023 "regular tax" is either $37K again (same as QBI 2023), $0?, or maybe it's the $20K loss from 2024? If someone could advise that would be appreciated!

Re: Schedule E worksheet missing info for Passive Operating Loss

PatriciaV — Mon, 17 Feb 2025 15:03:38 GMT

This experience has been reported and is under investigation. You may sign up for updates here: Why is the capital loss carryover screen showing incorrect calculations? Even if this doesn't seem to apply to your situation, the form & calculations will be updated in TurboTax when the investigation is complete.

@Cat_Sushi

@BudgetGuy

Re: Schedule E worksheet missing info for Passive Operating Loss

Cat_Sushi — Tue, 25 Feb 2025 00:25:30 GMT

Update from my original post. I opened up my 2023 turbotax files and compared it to 2024. Seems for whatever reason it did not transfer my info accurately.

My loss in 2022 got transferred to "prior to 2018 regular tax" field and my loss in 2023 was shifted up to 2022 regular tax field. After I adjusted the numbers manually (adjusting my "regular tax fields" to match 2022 and 2023) on the worksheet, my error went away. Not sure why it did that but hope this helps someone in the future or if TT is watching this.

Re: Schedule E worksheet missing info for Passive Operating Loss

BrittanyS — Tue, 25 Feb 2025 00:56:46 GMT

TurboTax is working on correcting calculations errors on the carryover screen. You can sign up for updates at the link below:

Why is the capital loss carryover screen showing incorrect calculations?

@Cat_Sushi

Re: Schedule E worksheet missing info for Passive Operating Loss

seng — Thu, 13 Mar 2025 19:20:00 GMT

Thanks for sharing this. I also opened my 2023 TT file and saw the same issue. I updated the worksheet as you did and then entered the operating loss that was in 2024 QBI to the 2024 Regular Tax column and my error message also went away.