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Question

I want to file with Turbo Tax basic plan but it is telling me I have to Upgrade because i have a Form 8582 for passive activity loss limitations. What does this mean??

Forum|Forum|1 year ago
March 30, 2025
1 reply
0 views

I don't want to upgrade to deluxe plan

TurboTax Live Basic Online

Form 8582 is to figure the amount of any passive activity loss for the current tax year.

Passive losses can come from a variety of activities, including
equipment leasing, rental real estate, limited partnerships, S corporations, limited liability companies, and sole proprietorships in which the taxpayer has no material participation.

The form is required to report losses that could not be used in the current year

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