How do I amend my 2023 tax return to correct my passive activity loss?
Due to a TurboTax error, some customers didn't receive the correct amount of passive activity loss. For these customers, this caused a reduction in the allowable passive activity loss and resulted in them overpaying their taxes.
If we notified you, we recommend you review and, if needed, amend your federal and, if applicable, state tax returns as soon as possible.
To correct your return, please follow the steps below.
Use TurboTax to determine if you need to amend your federal tax return.
When you open the return,
- If the refund/balance due amount does not match the refund/balance due on the original return, then the returns should be amended.
- If the refund/balance due amount is the same, then the return does not need to be amended. Stop here, no further action is required.
Enter “TO CORRECT PASSIVE ACTIVITY LOSS” as the reason for amending.
If you need to amend the return, follow the instructions provided by TurboTax to efile or mail the amended federal and state tax returns.
Save a copy of your amended federal and state tax, if applicable, returns for your records.
If you have questions, call 844-333-2161 (Monday–Friday, 5 AM to 5 PM PT) to speak with a specialist. Mention 2023 Passive Activity Loss so they know what you’re calling about.
