Question

From what line numbers should i get Passive Losses From Prior Year to fill out Sch E regular Tax carryovers and AMT carryovers

Forum|Forum|7 years ago
June 6, 2019
1 reply
0 views

I am using Turbotax for the first time so Turbotax will not be able to import it, i will have to do it manually. So can i get help as to which line number i need to import it from the Schedule E ?

TurboTax Premier Online

M

MichaelDC

Employee

If you used TurboTax last year and transferred your tax information to this year then the program already has any passive loss carryover information from 2015.

Otherwise, you can see your passive loss carryover by looking at your 2015 tax return. Look for Form 8582, Passive Activity Losses. On worksheet 5 of that form, there is a column for unallowed losses. If you have that in your 2015 return, this is the amount of your passive loss carryover to 2016.

Passive Loss Carryover is entered in the Rental Section.

Go to the Rental Summary screen (See the attached screenshot below. Click to enlarge.)

then chose Rental Profile,

the third screen you will see will ask "Do Any of These Situations Apply to This Property? --

towards the bottom of that screen is "Carryovers" "I have passive activity real estate losses carried over from a prior year." (See the attached screenshot below. Click to enlarge.)