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March 30, 2025
Question

For my K-1 partnership passive loss. It is saying that my passive operating loss of (-3k) can't be more than the total loss (-7k) what is wrong?

  • March 30, 2025
  • 2 replies
  • 0 views
Are numbers supposed to be positive? If true, would I amend last year's filing to make both years work?

    2 replies

    PatriciaV
    Employee
    March 31, 2025

    It's possible that the transfer of your prior year carryover information was unsuccessful, although that has been reported more often for rental properties than for Schedule K-1.

     

    Because the numbers are entered in more than one place for Schedule E, your best option is to delete the number that is causing the form error. In some cases, the carryovers are out of sequence. For instance, 2022 is on the 2021 line. Or the 2023 number is on the 2022 line. To fix this, enter the correct number starting with the most recent year. Then move up the schedule until all years are correct. The total passive loss appears on the line for "before 2018."

     

    We are not aware of an estimated date for this experience to be revised before the tax filing deadline. The ultimate fix is to 1) clear and start over in TurboTax Online or 2) transfer your 2023 return into a new 2024 return using TurboTax for Desktop.

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    April 2, 2025

    Thank you so much!  I called support multiple times and nobody had any idea how to fix it. I spent hours on it. Redid the form and it worked perfectly.