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March 17, 2024
Question

Rental Property: "Enter Nondeductible Expenses from Prior Year"

  • March 17, 2024
  • 2 replies
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I'm very confused by this TurboTax screen for "Nondeductible Expenses from Prior Year." I have a short-term vacation rental that we use on occasion but rent out short term. I have located Form 8582 from my prior year but I don't understand which numbers go where. TurboTax 2023 screen asks for operating expenses, depreciation expenses, AMT expenses, AMT depreciation expenses. Yet Form 8582 from 2022 doesn't specify these expenses.  Can anyone help me?

I'm using desktop Mac version of Home and Business.

 

 

    2 replies

    DaveF1006
    March 20, 2024

    To clarify, are there losses listed on your 2022 return listed anywhere in Part 1 or Part's 1V-V111? If so, what are they?

     

     

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    March 20, 2024

    On 2022 tax return, form 8582, it has the following:

    Part 1:

    1a: 0

    1b: 2,930.

    1c: 43,098.

         1d: -46,028

           3: -46,028

     

    Part 5: nothing there

    Part 6: nothing there

    Part 7: 

    (c): unallowed loss: $46,028

    Part 8:

    (c) allowed loss: 0

    DaveF1006
    March 21, 2024

    Yes, report $46,028 in the first box under operating expenses. 

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    March 31, 2024

    I have  similar question about my 2022 nondeductible expenses from prior year for my rental property and I do have a loss in 2022 but am not clear what number to put. from worksheet 8582. 

     

    Part I:

    line

    1a 0

    1b 50,7077

    1c nothing

     

    Part 2:

    4 50,707

    line 8  6,467

    line 9  6,467

     

    Part 3 

    line 10 = 0

    line 11 6,467

     

    Part 4

    (a) 0

    (b) 50,707

    (c) nothing

    (d) nothing

    (e) loss

     

    Part 5 

    nothing

     

    Part 6

    (a) 50,707

    (c) 6,467

    (d) 44, 240

     

    Part 7

    (a) 44,240

    (c) 44,240

     

    Part 8

    (a) 50,707

    (b) 44,240

    (c) 6,467

     

     

     

     

    March 31, 2024

    this is my info from parts 1-VIII of form 8582 for 2022 return