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Question

I have more expenses than income from my rental property this year. How do I handle suspended losses in future years? Does Turbo tax track and apply them automatically?

Forum|Forum|1 year ago
January 24, 2025
1 reply
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In some cases, the loss is allowed on the current year tax return so there might not be a carryforward.

If the loss are not allowed, yes, the program is designed to automatically carry forward that "passive loss" on form 8582. However, there have been known to be errors in transferring from one year to the next (especially before March), so you will want to verify that the Passive Loss Carryforward shows up on next year's tax return.