Foreign rental property loss carryover

[LXT]

I started to report US tax return in 2020 ( for tax year 2019). Since it's my first US tax return, I engaged a CPA who apparently didn't use TurboTax. There is a foreign rental property loss carryover of about $3000. In the tax year of 2020, I did the US tax return on my own using TurboTax (first time). I forgot to carry over this $3000 from previous year. Now when I'm doing last year's return, I realized that this $3000 carryover got lost. Is there anyway to get it back into my rental loss carryover?

[Carl]

If you are not a U.S. Citizen or registered alien with a social security number or individual tax identification number (ITIN) you can not use TurboTax.

Assuming you have an SSN or ITIN, if you have not yet filed your 2021 tax return, just work through the rental property profile section again. The third screen in, select the option for "I have passive activity real estate losses carried over from a prior year". Then click Continue. The next screen will allow you to enter the carry over numbers.

If you have already e-filed your return ***AND*** it has been accepted by the IRS, then you will need to file an amended 2021 tax return.

[LXT]

Can you please be more specific? I couldn't follow your instructions.

[Carl]

Start at the beginning of the section titled "Rental & Royalty Income". Where that is, depends on what flavor/version of the program you are using. Since you didn't identify the version/flavor in your forum profile prior to posting, I don't know what you 're using. You can always use the search function and search for "Rental & Royalty" and when the jump to link appears, click on it.

[LXT]

Thanks, I found where it is.

This is the screenshot of 'Passive Losses From Prior Years':

As you can see, for tax year 2020, I have -31. But in tax year 2019, I have -2,168. Unfortunately,

I forgot to carry it over to 2020, which should be -(31+2168)=-2199. 

1. Can I just replace -31 with -2199 in my tax year 2021 return?

2. Where to find AMT carryovers from prior years? I wrote -74 in my 2021 tax year return, but 

now I couldn't remember how I managed to find that number. :(

Thanks!

[Carl]

1. Can I just replace -31 with -2199 in my tax year 2021 return?

No. Either amend the prior year return, or accept the fact you lose the carry over for that year.

2. Where to find AMT carryovers from prior years? I wrote -74 in my 2021 tax year return, but

now I couldn't remember how I managed to find that number. :(

Honestly not sure, since with my income level, AMT has never come into play for me.

[LXT]

Thanks a lot!!

Do you have idea how to amend prior year's return?

Is it an easy process? Can it be done online?

[Carl]

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...