rick in cal Posted September 23, 2009 Report Posted September 23, 2009 I am a licensed tax preparer but only do mainly basic returns. My dad, Rick, has asked me to help him because he is too weak from surgury to complete this himself. His client inherited a house from her mother and turned it into a rental. The rental didn't work out and now she has 2 years of losses on form 8582. I can't get the program to tell me where the losses go. This past year she sold the house at a huge loss. There is some depreciation to recapture and I don't know how to get it on the forms right. Quote
grandmabee Posted September 23, 2009 Report Posted September 23, 2009 I am a licensed tax preparer but only do mainly basic returns. My dad, Rick, has asked me to help him because he is too weak from surgury to complete this himself. His client inherited a house from her mother and turned it into a rental. The rental didn't work out and now she has 2 years of losses on form 8582. I can't get the program to tell me where the losses go. This past year she sold the house at a huge loss. There is some depreciation to recapture and I don't know how to get it on the forms right. How big of losses were they. She should have been able to take them if under 25,000 Go to asset form and go to sale tabs and fill in sale price and selling expense it should flow to the right forms Quote
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