topic Passive Loss Carryover in Investors & landlords

Passive Loss Carryover

pasukankhusus — Sat, 01 Jun 2019 04:44:10 GMT

How do I determine my previous year's Passive Loss Carryover? I'm not even sure if I have a Passive Loss Carryover. Is this detailed in the Schedule E?

If you used TurboTax last year and transferred your tax i...

TurtleAnna — Sat, 01 Jun 2019 04:44:12 GMT

If you used TurboTax last year and transferred your tax information to this year then the program already has any passive loss carryover information from 2015.

Otherwise, you can see your passive loss carryover by looking at your 2015 tax return. Look for Form 8582, Passive Activity Losses. On worksheet 5 of that form, there is a column for unallowed losses. If you have that in your 2015 return, this is the amount of your passive loss carryover to 2016.

I used TT last year (2015 tax year). This year I found TT...

jet — Sat, 01 Jun 2019 04:44:13 GMT

I used TT last year (2015 tax year). This year I found TT did automatic passive loss carryover for Federal, but not for State (CA). Is this a bug?

I found this as well. Has anyone found an answer?

kelsoryn2 — Sat, 01 Jun 2019 04:44:13 GMT

I found this as well. Has anyone found an answer?

I ended up manually editing the forms through Form View.

jet — Sat, 01 Jun 2019 04:44:14 GMT

I ended up manually editing the forms through Form View.