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How do I enter form 8582 for passive loss carryforward?

 
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2 Replies
Carl
Level 15

How do I enter form 8582 for passive loss carryforward?

If your rental property produces a passive loss carry over that will be carried over to 2020, then the program will generate the form automatically. But only if needed. It is uncommon for rental property to "not" have a carry over. But if you don't have a mortgage on the property, then it very well may not have a carry over at all.

 

How do I enter form 8582 for passive loss carryforward?

Thanks for the reply Carl.

 

The passive loss carryforward is from many years ago. I still own the property, but haven't rented it for many years. Have been carrying the passive loss forward to use when I eventually do sell the property.

In past years, I also had a K-1 which was unrelated to the property. I don't have that K-1 in 2019.

For this year (2019 taxes), Turbo Tax carried forward the form 8582 correctly and also the K-1 from 2018.

When I deleted the K-1, the Form 8582 also was removed.

I'm not able to add the 8582 back. Since I didn't rent the property in 2019, it won't allow the Form 8582.

I need to continue to disclose the passive loss carryforward, as I don't want to lose it.

Any advice/ideas are greatly appreciated.

Thanks very much.

Carter

 

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