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Where do I find the prior year passive loss on schedule E? which line number do I use?
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Passive Loss Carryovers for Rental Activities are not reported on Schedule E. You will find the carryover for next year on Form 8582, Worksheet 5, Column c. (AMT carryovers appear on a separate copy of Form 8582 with Alt Min Tax under the title.)
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First check the box to indicate you have passive loss carryovers to enter (see screenshot #1 below - click to enlarge). The next page provides boxes for both regular and AMT carryover amounts (screenshot #2).
Find this under:
- Federal Taxes
- Rental Properties & Royalties
- Start/Revisit
- Add a property or Edit an existing property
The amount to enter appears on Form 8562 Worksheet 5 Column c (screenshot #3). Enter the "total." AMT amount is shown on the Alt Min Tax copy of the same form.
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