cl2019 Posted March 21, 2020 Report Posted March 21, 2020 In ATX, how can I enter the suspended loss carryover from former years, when the rental property is sold. Based on IRS, those loss carryover can be used without passive limitation. I don't know where on the software I can input the loss. It seems if I entered as an expense, form 8582 will limit the loss. Thank you! Quote
Lion EA Posted March 21, 2020 Report Posted March 21, 2020 I don't use ATX, but you probably have a check box to tell it that this is a complete taxable disposition of the property. That should release all the suspended losses. Quote
grandmabee Posted March 21, 2020 Report Posted March 21, 2020 Yes, Schedule E input total disposition. 1 Quote
cl2019 Posted March 21, 2020 Author Report Posted March 21, 2020 Thank you guys, very helpful and solved my problem. Quote
cl2019 Posted March 21, 2020 Author Report Posted March 21, 2020 additional question. for the New Jersey return, total 2019 rental loss of the property which was sold in 2019 is carry forward to 2020. Is there a place I can adjust that? Thank you again! Quote
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