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Level 3

Question

Form 8582

Forum|Forum|1 year ago
September 25, 2024
2 replies
13 views

I input all K-1's information but nothing showed on Form 8582 Part IV. Where should I enter the information to be shown on Part IV?

Level 6

Hello Mydearman.

If you are using TurboTax online, during your k1 questions, TurboTax will ask you about passive activity losses. Continue through the interview until you see the page titled "Report Carryovers - Regular Tax". This is where you report the passive loss carryover by income category. Subsequent screens allow you to enter other carryovers, and AMT carryovers.

If you are using TurboTax Desktop, you can click on "Open Form" under forms mode and enter 8582. This will generate the form and you can enter the info. there.

Thanks for participating in TurboTax's Ask the Expert event today. I hope this information was helpful!

Level 15

k-1 from what? if a publicly traded partnership or master limited partnership their losses are kept separate and not reported on form 8582.

other than the above, any losses shown on lines 1, 2, or 3 of the k-1 if passive should flow automatically to the 8582

Mike9241