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April 17, 2023
Question

how to carry forward interest on investment and rental income losses

  • April 17, 2023
  • 1 reply
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I have a interest on investment income but I cannot use it as I decided to have losses on my investment and carry it forward. I can see it in turbo tax. I cannot see my interest on investment as carry forward. how do I know that it is taken as carry forward in my tax filing.

I have a same question for losses on rental investment.

1 reply

April 17, 2023

for investment interest look at form 4952 line 7.   to get a carryover you must itemize your deductions for 2022. use the standard deduction and you lose it. for rental property interest enter on the schedule e becomes part of the income or loss. any loss not allowed becomes a carryover.  form 8582.