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Level 2
September 21, 2020
Question

How do you adjust unallowed passive loss carryovers to 2019 on 2019 individual tax returns for the states of New Jersey and New York?

  • September 21, 2020
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1 reply

itonewbie
Level 15
September 22, 2020

PAL is not relevant for NJ GIT purposes.  For other states where it's relevant, including NY, you'd make the entries on the Passive Carryovers tab (under the relevant activity e.g. Sch E or K-1) by selecting the state from the dropdown next to the amount.

[Edit: Pardon me for speaking a foreign language (PTO) in a Lacerte question.  Lacerte-speak, the input is in the Prior Year Unallowed Passive Losses section.]

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