Unable to input last year loss in rental property.

[Janet W]

I have been using Turbo tax every year.

This year, I wasn't able to enter the carry over loss of my rental property from last year.

The screen is just not where to be found. Looks like there is a glitch to the program.

I even checked both boxes of the passive loss so it would bring me to those screens.

Please advise

[DianeW777]

The following instruction will show you how to enter your carryover loss.  You must go into the rental property income section first, follow the steps to enter your carryover loss.

• Use the magnifying glass to Search (upper right) > Type rentals > Jump to Rentals > Select Edit beside your Rental Activity  > Under Less Common Situations > Review Carryovers, limitations, at risk info, etc. > Continue to enter your passive loss carryover.  See the image below for assistance.

Note: Any passive activity loss (PAL) carryforwards allowed would be listed on your Form 8582, Worksheet 5 or 6, in your 2022 tax return as 'unallowed loss'.  If you have a PAL and it does not seem to be populated in your 2023 tax return you can take the following steps to enter it.

 

[Janet W]

Sorry, I dont see this section (Review Carryovers, limitations, at risk info, etc. ).

I am not following the instructions.

Last year, it automatically went to a screen that says carry over loss from 2021 and what line to find it.

It didnt have it this year.

I assume to enter loss it should be under expenses but it doesnt.

Under less common situation it just let me review my depreciation again.

It seems like if I use Turbo Tax last year it shsould just carry it over automatically and I dont have to enter it manually each year. I had given this as my input each year but it has not happened. This year it not even available for input.

Please advise

Janet

[Janet W]

Sorry, I dont see this section (Review Carryovers, limitations, at risk info, etc. ).

I am not following the instructions.

Last year, it automatically went to a screen that says carry over loss from 2021 and what line to find it.

It didnt have it this year.

I assume to enter loss it should be under expenses but it doesnt.

Under less common situation, all 4 items doesnt let me deduct my loss from last year.

It seems like if I use Turbo Tax last year, it should just carry it over automatically and I dont have to enter it manually each year. I had given this as my input each year but it has not happened. This year it not even available for input.

Please advise

Janet

[MarilynG1]

If you're using TurboTax Desktop, and checked the two boxes indicating Carryovers, in the Property Profile section, the next screen that I get in TurboTax Premier version has entry boxes for 'At Risk Losses from Prior Years', for Regular Tax and QBI.

[Janet W]

Thank you found it.

Looking at Schedule E, where will I get this number if I have 3 properties and 1 has loss.

line 21, 22 or 26 (which is the the total of loss or gain of all 3 property)

Janet

[DianeW777]

The loss carryover from 2022 to 2023 is found on Form 8582.  The amount of any carryover of passive losses from your prior year tax return will be found on Form 8582, page 2, part VII or VIII in the "Unallowed Losses' column (c) or column(b) respectively.