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Schedule E loss carry forward

Forum|Forum|4 years ago
August 13, 2021
1 reply
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Hi all

TP self prepared in 2019 and showed a loss on Schedule E of $35k. Took the $25k loss in 2019 and showed a disallowed loss in 2019 return of $10k. I believe I can carry forward to 2020 but am not sure where to enter it. I used the Federal Carryover Worksheet and entered the $10k into Line 14a - Net operating loss available to carry forward.

Any views if this is correct? Does this qualify as an NOL and if not where do I enter the $10k. E was a rental property with deprecation and other costs way exceeding rental income.

Thanks for any help

Nolan

ProSeries Professional

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Best answer by Just-Lisa-Now-

It doesnt sound like an NOL.

Scroll down the Sch E worksheet and you should find a place to enter the carryover of disallowed/suspended losses.

Intuit Community Champion

Answer

Intuit Community Champion

It doesnt sound like an NOL.

Scroll down the Sch E worksheet and you should find a place to enter the carryover of disallowed/suspended losses.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

nolanmAuthor

Level 5

ah thanks Lisa, I see it now. Entered as on schedule E in line 'G" as a passive loss carryover - Schedule E suspended loss.

Investment real-estate, so I believe passive is correct?

Thanks again Nolan

Intuit Community Champion

Intuit Community Champion

that sounds right!

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪