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jacs810
Level 2

TurboTax H&B 2021 does not generate 8582

Hello Friends-

I sold a house in 2021. In the past the TT H&B had generated the Form 8582 for the rental activities (Passive Loss Limitations)

But it is not generating 8582 this year 2021.

Going through the IRS instructions, there are 6+ conditions to be satisfied in order to exempt this form. They are not being satisfied in my return.

So it seems there is a bug in TT 2021 (H&B).

Any ideas??

 

Thank you,

1 Best answer

Accepted Solutions
tagteam
Level 15

TurboTax H&B 2021 does not generate 8582

Suspended passive activity losses are released in the year the property attached thereto is sold to a third party in a taxable transaction.

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3 Replies
tagteam
Level 15

TurboTax H&B 2021 does not generate 8582

Suspended passive activity losses are released in the year the property attached thereto is sold to a third party in a taxable transaction.

Critter-3
Level 15

TurboTax H&B 2021 does not generate 8582

Look at the Sch E line 18 ... do you see the prior unallowed passive losses on that line ? 

Mike9241
Level 15

TurboTax H&B 2021 does not generate 8582

since your asking about 8582 is active participation checked for the property or is real estate professional checked

then real estate activities may no longer be passive. 

 

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