I am using Turbotax H&B windows. I need to generate a 2021 form 8582 to reflect a schedule F recapture gain, schedule F profit and PAL loss carry forward from prior years before using Turbotax. I have entered the passive loss carryforward step by step successfully but no Form 8582 is generated. How do I generate Form 8582 so I can efile my return?
Since you are using TurboTax CD/Download, you can add Form 8582 to report passive activity loss carryforward and use it against current or future passive income.
This option is not available in TurboTax Online.
There was an issue with the Form 8582, however, it seems to have been fixed today. I suggest you clear your history, cache and cookies then reboot your system and see if the fix has been updated in the software.
Here is how:
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Clearing the cookies and rebooting did not help. I have entered a Schedule F $28,502 passive loss carry forward which shows as a "PAL" and a correct reduction of line 34 by that amount in Schedule F. Unfortunately, no Form 8582 is generated as required by the IRS. Under these circumstances how do I generate a 2021 Form 8582 if I know the correct Part V inputs and descriptions? I believe the problem is that in my 2020 1040 (TT H&B windows) I inadvertently failed to include a 2020 Form 8582 (showing an unused passive loss carryover from prior years). Thank you in advance for you assistance.
Since you are using TurboTax CD/Download, you can add Form 8582 to report passive activity loss carryforward and use it against current or future passive income.
This option is not available in TurboTax Online.
Thank you very much for your assistance. Your directions worked to generate a 2021 From 8582 showing the prior year loss carry forward of $28,502. I am still having a problem manually entering two items in Part V section (a) Net Income: (1) F schedule F 2021 net profit and (2) farm (recapture) gain from form 4749. How do I accomplish this?
Please clarify if you have completed the Farm Income and Expenses section. The sale of Farm Assets includes the calculation of recapture gains. Carryovers, limitations, etc., are entered under Final Details at the end of the Farm interview. After you record your 2021 activity and any prior year carryovers, TurboTax will populate Forms 8582 and 4749 as needed.
I filed my taxes and federal was excepted. State says i need form 8582. Today i got email stating it was there, so i log in and the form isnt there. I looked at my federal taxes and form 8582 is there. Now im very confused. Can anyone help?
For SC, it's showing Form 8582 available to file by mail 03/03/2022, but for e-file it says Cannot e-file.
I looked at the state availability page for forms and it shows that the first page of the form is unsupported for e-file, but pages 2 and 3 are supported. This makes zero sense!
Can someone clarify please???
Thank you for sharing this information. Our team has been working to resolve an error message for the form availability of Form 8582 in the state return after the original date expected. We apologize for the delay and inconvenience this has caused. This should now be resolved. Please do try the return in Review and see if it will now pass without flags and allow you to file.
This does not work for me as the forms come in browse only mode (no update)
Please clarify what form you need help finding or updating.
Using windows laptop. Working on 2022 taxes. I can open form 8582, but cannot enter data. Any help you can provide??
Many times direct form entries are no allowed as the information arrives by the way of a worksheet ... right click on the data entry box you want to use to "data source" where the info will come from. Although direct data entry can be done in the FORMS mode if you do any overrides it can void the accuracy guarantee and can keep you from efiling so all entries should be done thru the interview mode (step by step) if at all possible.
I cleared my browser history and cookies, but am still unable to manually enter prior year's unallowed loss data in form 8582. I can right-click on a cell, but the option to "override" or go to "Source Data" is grayed out and not available. Any suggestions on how I can manually enter the data in 8582 (or go to an interview where the data can be entered)?
Prior year's unallowed loss data should be entered directly into the rental real estate section. The interview there will ask if you had any passive loss carryovers from the prior year when creating the rental activity and will take those and apply them to form 8582.
I'm in TT desktop 2023. I open a blank form 8582. I want to enter prior year carryover It doesn't allow me to manually enter any data.
passive loss carryovers are not entered on the 8582. this form is generated from info about passive activities enter on the worksheet that reports the activity such as a k-1 or schedule E rental.
if you did not use Turbotax in 2022 as you go through the worksheet entries in step mode there will be questions about prior pal C/Os
if you're using forms mode you will see that on the forms worksheet there is a place to enter the PAL c/o