Last few years, I had an accountant file my taxes for me. This year, I will do it myself thru TT. My tax situation hasn't changed (as in I have the same set of forms/schedules given to me last year as this year).
The last few years, my accountant included a schedule E (line 28 filled out) and form 8582 (details filled out in worksheet 3 & 5) due to income loss from schedule K-1 of a trust. What am I missing such that I can't get TT to fill both a schedule E (TT only asks about rental/royalty income for a schedule E) and form 8582?
Thanks for your insights!
You need to enter the schedule K-1 from the trust to generate schedule E, page two and form 8582. When you enter the schedule K-1 you will be asked to enter the carryover passive loss from the previous year.
How do I know if a schedule E & form 8582 have been generated? I saw the checkbox (and the following pages) to enter passive loss from previous year. But can't figure out which options relate to trust carryover passive loss to enter. Thanks.