K - 1 Partnership

[user17738499816]

Preparing a return in TurboTax Desktop 2024 for the first time, manually entering in a K - 1 from a real estate business with passive activity loss carryovers from 2023, AMT = Regular Tax. Where would this information be located?

[ThomasM125]

You enter the Schedule K-1 information in the Wages and Income section, then Business Investment and Estate/Trust Income, then Schedule K-1. After you enter your K-1 schedule, you will come to a screen that says Describe the Partnership. On that screen there will be an option that says I have passive activity losses carried over from last year. Check that box and on the next screen you can enter the  passive loss carryovers.