Entering previous passive losses for rental property

Lexington1 — Sat, 25 Jan 2025 22:54:18 GMT

Turbo Tax is asking me to enter past passive losses from Schedule E. The total passive losses from all previous years are contained on last year's form 8582, not Schedule E. Should I enter total cumulative passive loss from last year's 8582, or just last year's passive loss?

Re: Entering previous passive losses for rental property

MindyB — Sat, 25 Jan 2025 23:33:19 GMT

Enter the total cumulative passive losses. TurboTax is asking for "Sch E- Regular Tax Carryovers" for purposes of describing the loss on Schedule 8582. ‌The loss entered here should be sourced from your 2023 8582.

To determine if you have any passive activity losses carrying forward from last year, check Form 8582, Page 2, Part 7 (VII), and report the amount of “Unallowed loss."

topic Entering previous passive losses for rental property in Investors & landlords

Entering previous passive losses for rental property

Re: Entering previous passive losses for rental property