You'll need to sign in or create an account to connect with an expert.
If you used TurboTax last year, the passive loss should have carried over automatically. If it didn't, please follow these steps:
I am trying to respond to the questions in Turbotax "Describe the Partnership", one of the options was "I have passive activity losses carried over from last year".
How do I confirm whether I have (or I don't have) passive activity losses from 2018 for the K-1 partnership that should be carried over to 2019? I used Turbotax in 2018 to report K-1 information and kept all the worksheets. Which form or worksheet in either 2018 or 2019 Turbotax that I can verify this information?
Thanks in advance for your help.
The regular and AMT passive loss carryovers will be on the Form 8582 and Form 8582-AMT worksheets from your 2018 tax return.
Typically, entering these amounts is only necessary when you are using TurboTax for the first time (or using a different TurboTax Online account than was used in 2018).
Thanks!
You gave me the best answer. But I could not find the button or the menu, so I replied it here.
Howard
If you are trying to enter your prior year passive losses for a K-1 partnership, there is "Describe the Partnership" screen (see below) during your K-1 entry, immediately after the last "box entry" screen (see below). Check the line for "I have passive activity losses carried over from last year". The following screens will have boxes for your carryovers from 2018.
Here's the "Describe the Partnership" screen:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
AliChalo
New Member
bruced63
New Member
latefiler5
Level 1
skibum11
Returning Member
shirleyzeng
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.