Confused! Passive losses carryover amount transferred incorrectly from prior years.

I have passive losses carryover in 2020 and 2019. When I rolled Schedule E Worksheets of 2019 and 2020, the passive losses carryover amount was recorded correctly in 2019, but that number transferred wrong to 2020, so my total loss carryover amount is wrong in my 2020 tax year return.

Can I use the right amount for PAL carryover on the 2021 tax file or do I need to follow the wrong number of the 2020 tax return?

116

Expert Alumni

Feb 22, 2022 3:23:22 PM

It depends. You can use the correct number for PAL carryover that is listed on the 2021 tax file if you had no additional suspended losses in 2020.

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Confused! Passive losses carryover amount transferred incorrectly from prior years.