I realized I have made a couple mistakes over the years in using the correct unallowed loss carryforward amount from the prior year for my rental house. In all years however the mistakes only impact the size of the carryforward amount reported on form 8582; the prior accumulated losses are always larger than current year income from renting, I am never able to use the part II special allowance, and my schedule Es have and with the correction will continue to report zero for line 25 income/loss due to being cancelled out from the prior accumulated unallowed losses.
So do I need to ammend prior years 8582 or do anything else to let the IRS know, or can I just put the correct amount on form 8582 this year and ignore the mistakes of the past?
One of the many things I don't like about TT is that if you don't start from prior year's TT file I have found it too confusing to get the right carryforward amounts entered in properly. I know how to do it now but as a product designer the UX really could be improved..
