Should I amend? I forgot to add net rental real estate loss (carryforward) from previous year. This is my first year filing with Turbotax (used an accountant before).

Forum|Forum|11 months ago
April 16, 2025
1 reply
0 views

No text available

DavidD66

Yes, you should amend your return. Otherwise you will that loss. It won't be available to offset future rental income or reduce the gain on the sale, if and when you sell the property. But do not amend your return unless and until it has been accepted by the IRS and you have received any refund you were expecting. To amend a return in TurboTax:

How do I amend my federal tax return for this year?

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

dinesh_gradAuthor

Thanks!

Do you know which questionnaire I should answer in TurboTax to add my passive net real estate losses from prior years?

I don't remember an explicit question regarding passive activity losses from prior years, when I filed the original return.

Regards

Dinesh

PatriciaV

Employee

Yes, the passive loss carryover question appears during the interview for your Rental Property.

Open your TurboTax Online return and search for "schedule e" then click the "jump to" link.

Select the rental property you need to work on.
Scroll down to Less Common Situations and click the pencil icon beside "Carryovers, limitations..."
Click on "Make Changes" to enter/edit any carryovers that appear on the page.
Continue back to the property summary page.

If you're using TurboTax Desktop, update the Property Profile for your Rental Property.