Where do I find Nondeductible Expenses from Prior Year for Rental Property?

[writermom3]

We have a vacation home that we rent out and use ourselves. In filling out Schedule E, the TurboTax screen (see below) asks for Nondeductible Expenses from Prior Year. I don't remember ever filling out this screen in the past. Yes, we do take a loss every year but I thought TurboTax automatically does the calculations for me. Guess not. Now I'm confused. What do the four entries (Operating Expenses, Depreciation Expenses, AMT Operating Expenses, and AMT Depreciation Expenses) mean? And where would I find the information to add to this screen? Thank you.

[PatriciaV]

Please clarify which version of TurboTax you are using - Online or Desktop. Windows or Mac? Deluxe, Premier, Premium, or Home and Business?

[writermom3]

I am using Home and Business (2023), Mac, Desktop.

Thank you!

[MarilynG1]

Check your prior year's Schedule E.  If you have a property used for both Personal and Rental, your non-deductible expenses will show in a column titled 'Vacation Home Loss Limitation'.  This is not a Mac version, but should be similar. 

@writermom3 

[cmvdragon]

Thank you for this answer. I am confused...I would have thought that column is the one you can deduct and the one under personal is the nondeductible...? Can you please coment?

Also would you please expand on the pert of prior ques tion that reads:

What do the four entries (Operating Expenses, Depreciation Expenses, AMT Operating Expenses, and AMT Depreciation Expenses) mean? And where would I find the information to add to this screen? 

Thank you!!

[RobertB4444]

You can look for form 8582 in your prior year's tax returns but it probably isn't there.

Deductions for rental homes are disallowed because you make too much money.  That doesn't happen for most of us.  If it hasn't ever happened to you then you can ignore this screen.  If it has happened for you then you have a form 8582 in your tax return from last year that shows the amount of losses that you are carrying forward and have not been allowed to take over time.  The numbers that you are looking for are there.

Operational expenses are the expenses to operate your rental home, depreciation expenses are expenses from depreciating your rental home and AMT is alternative minimum tax - a tax designed to stop high-income earners from avoiding taxes altogether with too many deductions.

@cmvdragon