Schedule E worksheet carryovers to 2024 Smart Worksheet

[amyonghwee]

In 2023, Schedule E worksheet reports

For property A,

L21 Income or (loss)  -$20,489

L22 Deductible rental real estate loss -$3,262

For property B,

L21 Income or (loss)  +$20,001

L22 Deductible rental real estate loss -$15,341

I import 2023 turbotax file into 2024 turbotax to do my taxes.

Under Schedule E worksheet carryovers to 2024 Smart Worksheet

For property A,  Line G Schedule E suspended loss -$17,227, which is correct.

But for property B, it fails the smart check and looking at the worksheet, turbotax has this figure -$15,341, which is wrong. I believe this is a turbotax bug.

Pls help!

[PatriciaV]

It would be helpful to have TurboTax files from both 2023 and 2024 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 Share or Help.)

1. Choose Send Tax File to Agent.
2. You will see a message explaining what the diagnostic copy is.  Click Send on this screen and wait for the Token number to appear.
3. Repeat for each tax year.
4. Reply to this thread with screenshots of your Token numbers (this avoids Community filters for numbers with a dash) and tag (@) the Expert requesting the token from you.
5. Please include any States that are part of your return - this is VERY important.

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. 

[amyonghwee]

@PatriciaV 

Thanks! Token number as shown below for 2024 and 2023 tax returns!

[amyonghwee]

@PatriciaV 

Besides above error, smart check has 2 more errors relating to 2 rental properties. TT is asking for 2023 passive operating loss. Shouldn't this data be available from TT 2023 import?

[alaninmontana]

I am having a similar issue for my two rental properties.  The message from the review errors says "Schedule E worksheet (rental property address): QBI Passive loss c/f should not have a values when no previously disallowed losses are present for regular tax purposes."  The value in the QBI column for "Carryovers to 2024 Smart Worksheet" line G "Schedule E suspended loss" is highlighted.  Turbo Tax put this value in there, and I don't know where it came from.  The other error message from review is exactly the same for the other rental property.  Turbo Tax told me last week that the March 7th Turbo Tax update would correct this problem, but it hasn't. I started this years return on-line, after years of desktop Turbo Tax.  I bought the download for desktop this week and transferred from on-line, so I could see the actual forms, but this is not helping me understand what is going on.  Please help.