Question

QBI Passive loss c/f should not have a value when no previously disallowed losses are present for regular tax purposes

Forum|Forum|1 year ago
January 26, 2025
2 replies
0 views

I am receiving this error in the Schedule E worksheet for 2024:

The software wants me to remove the $5,004 entry, however this entry is accurate if you look at the 2023 Schedule E Worksheet and Form 8582 Part VII (a). There is no regular tax or AMT suspended loss to input. I am at a loss as to why this error is occurring, thanks in advance for any assistance.

TurboTax Premier Online

PatriciaV

Employee

It would be helpful to have a TurboTax ".tax2024" file to test this issue further.

If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions:

In TurboTax Desktop, open your return and go to Online in the TurboTax header. (On a Mac computer, choose File >> Share.)

Choose Send Tax File to Agent.
You will see a message explaining what the diagnostic copy is.  Click Send on this screen and wait for the Token number to appear.
Reply to this thread with your Token number (including the dash) and tag (@) the Expert requesting the token from you.
Please include any States that are part of your return - the is VERY important.

We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution.

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P

PittfanAuthor

@PatriciaV I am using the online version of Turbo tax and can only download my .tax files for 2023 and earlier. Are there different steps to download the diagnostic file you can use on Turbo Tax online?

M

Mike9241

for your information, it is possible to have a QBI passive loss carryover but not a passive loss carryover, they are two separate things

example passive loss from rental real estate $10K, QBI passive loss also $10K

adjusted gross income $140K

the passive loss for regular tax purposes is allowed but since the QBI is a loss, it doesn't just disappear but becomes a carryforward to offset QBI income in future years..