Errors on Schedule E Worksheet related to operating loss

[EBPash]

I saw some similar questions posted that relate to a glitch in the 2024 Turbo Tax, but they do not seem to have been answered except to say that this problem should be corrected in a future update.  But that was from a month ago and taxes are due soon!

I completed the federal return and it came out with 2 errors.  They are both the same error, relating to the same spot on the Schedule E worksheet for 2 different rental properties.  In both cases, it wants me to fill in a value for line S Operating loss (regular tax column).  I have been using Turbo Tax for decades and this is something the software always fills in.  Not only would I have no idea what to put in that spot,  I am also not confident that the remaining info that has been filled in on that worksheet is correct.

Answers to previous posts say that this is something that Intuit is aware of.  Can you please tell me when a fix will be available for this problem? (And once that update is available, is there something I need to do to make it apply to my already existing return?)

[PatriciaV · Accepted solution]

Since this issue is related to the transfer of your prior year information into the current tax return, the only possible fix would be to clear and start over. Otherwise, you may be able to clear the form error by entering a zero for the requested carryover amount.

If you continue to see form errors using TurboTax Online, you may need to switch to TurboTax for Desktop and edit the form manually using Forms Mode. 

The work-around presented in this post will correct the passive loss carryover entry from last year. You will need to be using TurboTax for Desktop. Once completed, your return should pass final review and be ready to file.

Additional Information: How do I switch from TurboTax Online to the TurboTax software?

[sseb1]

I have a similar issue and it "appears" that it may have been fixed with the latest update.  Is there a way to delete all Schedule E and related forms and reimport those forms only on my existing return?  I do not want to redo my entire return but want the errors corrected in the import from 2023.

[PatriciaV]

The only options are to clear and start over your entire return or manually enter the missing information.

@sseb1 

[cgregoli]

I'm having the same issue, along with a related one.  I have already cleared my entire return, re-entered all the information and I'm still coming up with the same problem.  I also have an additional issue that the numbers in the QBI column do not match those in the Regular Tax column.  The 2022 Regular Tax number online for 2024 return is $-7,810 and on my 2022 actual return the loss in Part VII column (c) is $-7,922.  In the QBI column for 2022 online for the 2024 return the number is $-2,831, which matches no other numbers. How do I reconcile that discrepancy if I purchase (?!?!  Why should I have to pay for this when I've already paid to file my returns through the online system?!?!  I do have my receipt for payment.) the desktop version and change Form 8582 manually?

Thank you for your assistance.  It's not your fault he programmers didn't beta test this well enough this year.

Cynthia

[JCM2]

Interesting seeing this here.  I had the exact same issue, but didn't have the time to report bugs to TT.  It is also not printing 2023 data on the 2023-2024 comparison chart for rental properties (unlike every other year).  When TT was trying to charge me, I broke down and hit "live help" - which then said do you want a call.  I explained my 3 issues (2 bugs and issue with being charged).  I had to spend 2.5 hours with the 2 tech guys and then I had to go.  They could not figure out why I was getting charged (and never seemed to even see the issue with the loss, tried to change it to me saying I am not a QBI - ??   I have done TT since QBI came out and never had an issue.  Anyway, they send me a message (which has no way to reply) saying given I called live support, it is not a free product.  COMPLETE JOKE!  I only called as it was trying to charge me.  While I called, I told them about the 2 system bugs (not showing the rental amount, which might be linked to the manual requirement on the schedule E).  Turns out, based on this, it is a known issue!!  The system calculates the loss, so users should NOT have to put it in.  They did not seem concerned with fixing it AT ALL.  I am escalating as they are trying to charge me for using their services where were only used to ask why It is not going thru (and here is a bug).  Anyone else have any ideas how to get this fixed or better luck?  The error, allows you to see the schedule E (as you can no longer jump there like you used to be able to) and you can see the 2023 data is there, it is just not showing up on the screen.  

[JCM2]

Glad to know it was fixed. For on-line versions or just the desktop? Thank you

[PatriciaV]

As previously mentioned, the missing/incorrect carryover amounts are transferred with all prior year information when you start your current year return. For this reason, there is no resolution other than starting over with your return.

The work-around presented in this post will correct the passive loss carryover entry from last year. This is a manual process and requires access to your prior year return. 

Additional Information: 

• How do I switch from TurboTax Online to the TurboTax software?
• How do I get a PDF of my return?

@JCM2 

@cgregoli