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Schedule E Worksheet

When running the error check, it produced an issue to be resolved on my Schedule E Worksheet.  It states "QBI Passive loss c/f should not have a value when no previously disallowed losses are present for regular tax purposes."  and it wants me to eliminate the entry in the Carryovers to 2023 Smart Worksheet section for item G Schedule E suspended loss in the QBI column.  This number relates to an Operating Loss from 2019 that has been an entry on this worksheet for at least the last two years.  Why is it being flagged this year and what should I do to fix it as the entry looks correct?

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11 Replies

Schedule E Worksheet

I'm having the same issue and cannot seem to get an answer.  I've been on the phone with Turbo tax for 45 minutes and have not answer yet. 

PatriciaV
Employee Tax Expert

Schedule E Worksheet

It would be helpful to have a TurboTax ".tax2023" file that is experiencing this issue.

 

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, please follow these instructions: 

 

In TurboTax Online, open your return, go to the panel on the left side of your program and select Tax Tools

  1. Then select Tools below Tax Tools. 
  2. A window will pop up which says Tools Center.  
  3. On this screen, select Share my file with Agent
  4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number
  5. Reply to this thread with your Token number and tag (@) the Expert requesting the token from you. Please include any States that are part of your return.

  

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. 

 

If you are using TurboTax for Desktop, go to Online in the top menu, then choose "Send Tax File to Agent." On a Mac computer, choose File >> Share.

 

@JohnOski 

@astridwilson 

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Schedule E Worksheet

I have this same issue did you ever resolve?

PatriciaV
Employee Tax Expert

Schedule E Worksheet

@SAVAGE CABBAGE Please follow the instructions above to obtain a token number for your return and post it the thread. Be sure to include any States that apply and tag @ the Expert requesting the token.

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userhazen
Returning Member

Schedule E Worksheet

Token Number is 1222039.

Same error as everyone else.  QBI Passive loss c/f should not have a value when no previously disallowed losses are present for regular tax purposes.  Let me know if you need any other information to clear up this problem.  We have entered the information the same way we have for years.

userhazen
Returning Member

Schedule E Worksheet

Updated token number is 1222069.  Realized that I had answered the question of "In 2018, di you have any activities on your return that where classified as SSTBs or had income attributable to SSTBs?" wrong.  I went in and updated to No on all of the rentals but still have the same errors.

Schedule E Worksheet

I went to rental properties, under property profile I hit update and said Yes to I have passive activity... under Carryovers.  I entered data found in:

 

Form 8582 Part VII (a) Loss in 2022 taxes and enter the allocation of Unallowed Losses in the Passive Losses from prior Years as regular Tax Carryover.  In the AMT carryover I subtracted 80 from my regular tax loss which I found in form 6251 of 2022 taxes.  QBI carried over from 2022.  

PatriciaV
Employee Tax Expert

Schedule E Worksheet

Please check the Schedule E Worksheet from last year and confirm there were no entries under the "Carryforward to 2023 Smart Worksheet" on Line G, Regular Tax column. This column represents the suspended loss for the Schedule E property.

 

It's possible the regular tax loss did not transfer to your current year return. If this is the case, manually enter the amount from Line 8 under the carryover section for this year on Schedule E.

 

@userhazen 

@astridwilson 

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userhazen
Returning Member

Schedule E Worksheet

Thanks for the response.  I went into TurboTax 2022 and saved to PDF - Tax Return, all calculation worksheets.

Found the section you are talking about "Carryovers to 2022 Smart Worksheet".  Line G does have QBI at -1448.  Going further down it appears that these are from the section Disallowed Passive Losses by Year and Type --> 2018 under D Operating Loss.

Then I pulled up 2023 and did the same thing.  Looked at Carryovers to 2023 Smart Worksheet.  Line G is filled in with -1448 and all the sections appear to be the same (besides current year numbers).

I am not sure what you mean about regular tax loss did not transfer.  It does not appear that there is any in 2022.  Has there been a bug in turbo tax for several years and they are now just validating something?

Schedule E Worksheet

Hi, I am running into this exact same error. Did you find a resolution for this?

Schedule E Worksheet

I went to rental properties, under property profile I hit update and said Yes to I have passive activity... under Carryovers.  I entered data found in:

 

Form 8582 Part VII (a) Loss in 2022 taxes and enter the allocation of Unallowed Losses in the Passive Losses from prior Years as regular Tax Carryover.  In the AMT carryover I subtracted 80 from my regular tax loss which I found in form 6251 of 2022 taxes.  QBI carried over from 2022. 

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