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February 5, 2022
Question

I cannot file because a passive activity loss limitations form is not ready to be filed. I do not believe I even need this form. Please help. What do I do?

  • February 5, 2022
  • 1 reply
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1 reply

February 5, 2022

The best thing to do would be to wait until the form is available.

 

Form 8582, Passive Activity Loss Limitations, is used to determine if you can deduct passive losses which normally come about from rental activities. Even if you don't report a rental on your tax return, it can be generated by entries on a K-1 schedule or from previous year K-1 entries or rental activities reported on your tax return.

 

You can try to delete the form 8582 but it may not be possible, especially if it is associated with a current year rental or entry on a K-1 schedule. Also, it may have a negative affect on your taxes if you delete the form.

 

A simple way to delete forms in TurboTax online is to use the Tax Tools menu option, which is on your left menu bar when you are working in your program. Then, choose Tools and then Delete a form.

 

If you are working in the download TurboTax program, use the Forms Mode on your menu bar to bring up the form you want to delete, then choose the Delete Form option at the bottom of the form.

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