I am receiving this error in the Schedule E worksheet for 2024:
The software wants me to remove the $5,004 entry, however this entry is accurate if you look at the 2023 Schedule E Worksheet and Form 8582 Part VII (a). There is no regular tax or AMT suspended loss to input. I am at a loss as to why this error is occurring, thanks in advance for any assistance.
You'll need to sign in or create an account to connect with an expert.
It would be helpful to have a TurboTax ".tax2024" file to test this issue further.
If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions:
In TurboTax Desktop, open your return and go to Online in the TurboTax header. (On a Mac computer, choose File >> Share.)
We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution.
@PatriciaV I am using the online version of Turbo tax and can only download my .tax files for 2023 and earlier. Are there different steps to download the diagnostic file you can use on Turbo Tax online?
@PatriciaV I actually figured it out. The token number is 1264049
Please provide the complete token number, which has a long number, a dash, then a shorter number. The instructions for TurboTax Online are below. Please include the name of your State(s) as well.
In TurboTax Online, open your return, go to the black panel on the left side of your program and select Tax Tools.
@PatriciaV Thanks, I followed the instructions, and this is what it gave me, the token number is not formatted as you mentioned: 1264325. I have PA and WV as my states as well.
for your information, it is possible to have a QBI passive loss carryover but not a passive loss carryover, they are two separate things
example passive loss from rental real estate $10K, QBI passive loss also $10K
adjusted gross income $140K
the passive loss for regular tax purposes is allowed but since the QBI is a loss, it doesn't just disappear but becomes a carryforward to offset QBI income in future years..
Thanks, I feel like that is the situation I am in, but the software is not allowing me to carryforward the QBI one. Very frustrating.
@PatriciaV Good morning, have you had a chance to review the test file?
The resolution is to enter 1 or -1 for the regular carryforward. This will allow the QBI to be carried forward to next year's return.
The experience has been reported to our development team for investigation. It's unlikely this will be addressed before the filing deadline.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
chriscolten
Level 2
BostonDoug
Level 1
astridwilson
Level 3
Pittfan
Level 1
gjsjbrah
New Member