How to fill in Form 8582?

[AllieHoop]

I have a passive activity unallowed loss from my prior year return Form 8582 which I would like to carry forward. I cannot figure out how to do this and to include the carryforward on my 2015 form 8582 and schedule E.

[view2 · Accepted solution]

Revisit your property from the beginning at the screen >tell us about the property< click the box that you had passive loss carryover, next screen brings up a place to enter the passive loss carryovers

[ronlevy111]

Why isn't it automatically carried over by TT???

[view2]

@ronlevy111  IN the windows desktop version [carry overs were transferred] under the "Tools" "My tax data" shows what is transferred from the prior year, the option maybe in the Mac version also.It is also a good practice to print out  not only the copy of your tax return  but also all supporting worksheets and forms, especially when you have rental property.

[ronlevy111]

thanks. do you mean print out for IRS, or my records? I won't know till next year (doing the 2016 return) if my Mac version carries it over automatically.

[ppostma7104]

It seems TT always remembers and carries forward with smart worksheets, but doesn't IRS want form 8582 filled out.  This only happens if you manually enter in the above mentioned section of TT.  Why doesn't TT just auto-fill that for you like it does for other carry forwards?  Also, does 8582 and the aforementioned TT section only include OpEx carryforward or also include depreciation carryforward?

[rossojm]

i lost last year file and I am not asked by TT for carryovers - how do I change the worksheet?

[rossojm]

i can't get to the TT section that asks for prior year carryovers

[ppostma7104]

Rossojm: I can go into "Form" mode and then find form 8582, but it already has my last year's unallowed losses entered and can't change it there.  But there are links in the TT form that let you QuickZoom to related forms, you will want Sched E worksheet.  There I can see Depreciation Carryover, but I can't change it there either.  That's as much as I can figure out.  Let us know if you get farther.

[artnmyr]

How to fill in Form 8582

[tpbois70]

Hi I saw your post about form 8582.

I too have carry forward losses from 8582 and I believe I found where to place the carry forward loss as negative number.

When I did so, it dropped the amount I owe and instead I am now getting a refund.  Im concerned that it is applying my losses by either all or some percentage by mistake.  I plan on using the losses later when I need them.

I wasn't expecting a carry forward of PAL to drop the amount I owe.  I owe because I have too little withheld from my pay so I don't mind paying the tax.

Since TurboTax doesnt allow me to see the actual forms as they are being populated, its difficult to compare to my last tax returns.

Any help or advice on this??