Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
R
rsponaugle
December 5, 2024
Question

Passive K-1 loss is being deducted from taxable income

  • December 5, 2024
  • 1 reply
  • 0 views
No text available

    1 reply

    M
    Mike9241
    December 5, 2024

    A passive loss from rental real estate may be deducted if you materially participate and your adjusted gross income is $150K or less. Look at form 8582. We have no access to your return, but all passive losses should first flow to that form, and any allowable amounts calculated. If it's not flowing to the form, then either it's not passive or you answered some question incorrectly. 

    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification