8582 Entry for "Prior years' unallowed losses "

Forum|Forum|3 years ago
April 5, 2023
2 replies
20 views

I had a 2022 new customer with Prior years' unallowed losses. I couldn't find any direct entry for the 8582 Par I, line c "Prior years' unallowed losses." My workaround was to create a 2021 prior year return with rental loss to match the 8582. I created 2022 based on 2021 where the "Prior years' unallowed losses" calculation was correct.

What would be your take on this?

ProConnect Tax

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Best answer by PhoebeRoberts

I routinely recreate the prior year return for new clients in order to get the carry forward correct. Nothing like trying to clean up the AMT version three years down the line because it got missed on the original setup and the client wasn't initially in AMT!

PhoebeRoberts

Answer

Intuit Community Champion

I routinely recreate the prior year return for new clients in order to get the carry forward correct. Nothing like trying to clean up the AMT version three years down the line because it got missed on the original setup and the client wasn't initially in AMT!

B

BAC219

Level 2

Yes this sounds like a great idea but I still to enter the Passive Loss Carryforward for previous year to complete that year which means I am still in the same boat.

T

taxmo

Intuit Community Champion

If the passive loss is from rental properties, you enter the prior year unallowed losses info on the "Passive Losses" tab of the rental property input screen in ProConnect. In most cases, the amount goes in the Regular -> Operating box, and also the AMT -> Operating box.

B

BAC219

Level 2

The passive losses are from Public Partnerships. I entered them on the Carryforward Worksheet but they do not flow to form 8582. When I entered my Capital Loss Carryforward on the worksheet the losses did carryforward to Schedule D though.

T

taxmo

Intuit Community Champion

What is the "Carryforward Worksheet"? I'm not sure if you're saying that's a screen in ProConnect where you can enter data?

If you have a K-1 for a partnership, you can enter prior year unallowed passive loss on the "Passive C/O" tab for the K-1 in ProConnect.

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