"Passive activity real estate losses carryover" question in TT appears to be unaware of the existing rental property depreciation carryover

Forum|Forum|4 years ago
October 8, 2021
1 reply
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I'm assuming "real estate losses" here refers to loss from the rental business, since that's the section I'm in.

My rental property's depreciation carryover is listed under Passive Losses Carryover on my 2019 "Carryforward to 2020 Smart Worksheet." It's been entered on my 2020 "Carryovers to 2020 Smart Worksheet." Therefore I would expect TT 2020 to know I have a passive loss carryover and so check the box asking me about it by default.

So should I check the box because TT is simply not connecting the dots (and I'll have to manually enter the amount)? Or should I leave the box unchecked because TT *has*connected the dots, my loss carryover amount is being used/stored elsewhere, and this question is meaning to ask if I have any *other* such losses not yet entered (and so the question should be re-written more clearly to indicate this)?

TurboTax Home & Biz Windows

Best answer by Anonymous_

@DaveLaQ wrote:

......I would expect TT 2020 to know I have a passive loss carryover and so check the box asking me about it by default.

The box to which you are referring will not be checked by default. However, if you transferred your 2019 return into your 2020 return, passive loss carryovers will be transferred into your 2020 return package.

You can check this in Forms Mode.