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Level 2
June 8, 2023
Question

Passive loss carryovers

  • June 8, 2023
  • 1 reply
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How are the state passive loss carryovers entered in the Schedule E Passive Losses screen when the state amount is different from the federal amount? This screen only has one column.

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1 reply

puravidapto
Level 7
June 9, 2023

You simply need to allocate each amount to the corresponding state in Schedule E and in depreciation schedule, and the states will then independently track it.

I haven't examined it in detail, it appears that certain states, perhaps NJ is one of them, do not take losses into account. I would like to get information how rental losses enter the states, for those you are familiar with, when the property has a gain in rental or when sold. Thanks.

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