TT software keeps bringing me back to Passive Operating Loss concerning a K-1 I am dealing with. Keeps telling me sum of losses should not be greater than total?

Forum|Forum|4 years ago
April 2, 2022
2 replies
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I adjusted the Passive Operating Loss to match the amount shown in the question and attempted to continue through the check. Is this an acceptable approach?

TurboTax Self Employed Online

AliciaP1

There is a known issue with entering passive losses in TurboTax. It has been investigated and the correction is slated to be released on 04/08/2022. Please review your return after this date.

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dvmarsha1Author

Thanks for the reply. I was concerned about not being able to complete my review prior to filing my return. I will check back after 4/8 to see if I can complete the review.

jc_2023

I know this issue was posted and resolved in 2022, but I seem to be running into the exact same issue this year. I'm using TT Premier Desktop (Mac), and even when I check for updates it says I'm up to date. When I do the Smart Check if circles me to the same "Sum of losses in individual years should not be greater then total loss" error. And even after I update the passive losses section for prior years, the total doesn't update to reflect any changes. What is the workaround or fix for this?

BrittanyS

Can you clarify if you have double-checked your loss allocation entries to be sure there is not a rounding issue that is causing your detail losses to be more than your total loss reported?

@jc_2023

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jc_2023

Thanks for the quick reply. I've been only entering negative whole numbers so not sure how there could be a rounding issue. I'm wondering if something got imported/transferred incorrectly from my '21 Taxes?