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Level 4
August 6, 2024

Re creation a form 8582 for multiple rental propertes

  • August 6, 2024
  • 1 reply
  • 5 views

I am trying to recreate a tax filing for a potential new client.

I have their 2023 filing but I don't have the carry forward information as a carry forward file.

I have their completed Form 8582 but I can not recreate it in PRO SERIES BASIC

Any suggestions about I can create it?

Also one rental property was sold during 2023 can they still claim depreciation for a portion of the tax year on the property ?

1 reply

Level 15
August 7, 2024

On the Schedule E Worksheet (where you enter the rental information), scroll down.  There is a section for carryovers to 2023 and when you enter the passive loss carryover there, it will populate the 8582.

Yes, depreciation continues until the month it is sold.  Don't forget to check box "H" on the Schedule E worksheet for the sold property.