Question

rental loss carryover

Forum|Forum|2 years ago
April 6, 2024
2 replies
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My rental loss problem is not related to PAL. It isn't because I exceeded the 25K max. It was because my income was so low that the deduction didn't help as my income was already at zero without the rental losses. This year my income is high, including lots of passive income, so I am trying to figure out how to list the losses from 2022 on this year's return!

P

PaulaM

You'll find the area to enter the carryover in the Less Common Situations section after the Rental Expense section.

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M

Mike9241

if you already had a loss (negative Adjusted gross income) before that $25K, that $25K may be an NOL carryover rather than a PAL c/o. Turbotax does not compute NOL carryovers. You'll need to use for 1045 schedule A

or PUB 536

https://www.irs.gov/pub/irs-pdf/p536.pdf