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,

469

1 Best answer

Level 15

Aug 19, 2022 7:10:33 PM

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

Level 15

Aug 19, 2022 7:10:33 PM

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

Level 15

Aug 19, 2022 7:26:08 PM

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

Level 15

Aug 19, 2022 11:07:16 PM

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.