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Level 2
posted Apr 8, 2022 3:32:27 PM

A page question I have passive activity losses carried over from last year. Will the losses appear on my K-1 in future years, or must I look at the present yr (2021) K-1

Turbotax has a page of questions of which two are:

1. I have passive activity losses carried over from last year.

2. I have at-risk losses carrying over from 2020

This is first year I have this partnership. Will the losses appear on my K-1 in future years, or must I look at the present year (2021) K-1 and remember the boxes that had losses?

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1 Replies
Level 9
Apr 8, 2022 5:36:24 PM

TurboTax will track your losses.  Next year when you start your return, it will offer to let you import information from 2021.  At that point it will bring any losses into your 2022 return.