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August 15, 2024
Question

Where to find out rental loss amount for the prior year ? On prior year Sch E or on form 8582?

  • August 15, 2024
  • 1 reply
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If the prior year has rental loss,  which line on Sch E or on form 8582 shows the  rental loss of the prior year? 

    1 reply

    M-MTax
    August 15, 2024

    Your total loss is on Line 21 but that's not necessarily your deductible loss.

    csdl2024Author
    August 31, 2024

    On Sch E

    Line 21, 6198 loss

    line 22, 8582 loss 

    Line 21 and line 22 can be different if taxpayer AGI is less than 150K

    line 26, total income or loss, if no other passive income to offset passive loss, this line would be entered"0"

     

    On 8582 form,  page 1, part IV line (e) is the data that needs to be carried over to the next year. 

     

    Please let me know if I am wrong.