Form 8582, Part IV... How do I get the loss to show up in Column b Net loss?

[chapguy19]

Cx had a loss of $5414 in 2021 which was not allowed due to him being only an active participant but it needs to be carried forward to the future.  My Column b is "0" and is uneditable.  Cx used the vacation home 16% of the time.  I'm not checking off something or I've checked off too much.  He is not a material participant.
Thanks in advance, Christopher

[TaxGuyBill]

---

@chapguy19 wrote:
 Cx used the vacation home 16% of the time. 

---

It sounds your client has a "vacation home" carryover, not a "passive loss" carryover.

If you go to the Schedule E worksheet and scroll down about 3/4 of the way, you'll see that the "vacation home" carryover amounts are being carried to 2022.

[chapguy19]

Thank, TaxGuyBill,

Can you tell me where I enter the $64331 that the prior accountant had accumulated for carry forward from 2020? Do I enter that amount in Carryovers to 2021 Smart Worksheet, Line M?  That amount came from 2020 8582 Passive Activity Loss. And where can I see the new total?

Why, when I print the whole return for review, 8582, doesn't even print nor is there anything on the form on my screen?

I see that PS took the $4227 depreciation and entered to Carryforward to 2022 Smart Worksheet, Line M on Schedule E since it was in the Column (d) Vacation Home Loss Limitation, line 18a.

Why, when I print the whole return for review, 8582, doesn't even print nor is there anything on the form on my screen?

I see why Passive Loss is, all by itself, a college degree.  I have so much to learn and very much appreciate the help. I'm not even close to being able to explain this to the client.

[TaxGuyBill]

---

@chapguy19 wrote:

Can you tell me where I enter the $64331 that the prior accountant had accumulated for carry forward from 2020? Do I enter that amount in Carryovers to 2021 Smart Worksheet, Line M?  That amount came from 2020 8582 Passive Activity Loss. 

Why, when I print the whole return for review, 8582, doesn't even print nor is there anything on the form on my screen?

I see that PS took the $4227 depreciation and entered to Carryforward to 2022 Smart Worksheet, Line M on Schedule E since it was in the Column (d) Vacation Home Loss Limitation, line 18a.

Why, when I print the whole return for review, 8582, doesn't even print nor is there anything on the form on my screen?

---

As you have it entered now, there are not any Passive Losses (only "vacation home" losses), so that is why you don't see a 8582.

After you enter the Passive Loss Carryover on Line G of the worksheet carry-to-2021 worksheet, you should see the 8582 populate.

Was there personal use in prior years?  If so, what was the number of rental days and number of personal days?

Yes, these things are complicated.

[chapguy19]

TaxGuyBill,

Again, can't thank you enough for your help.

This has been a vacation home from 2016. And I have no idea how many total vacation vs. rental days there were in the past.  This is new client.

In 2020, it was 109 rental, 25 personal. In 2019, 115 v. 7 days.

In 2019, there is a form 8582, with the $65331 totaled from 2019 and prior years.

I was not sure where to put the $64331 so I put it on Sch E, Carryover to 2021 Worksheet, Line M.  

And from what little I know about all this, I am not sure that the prior tax person did it correctly.

Where does it accumulate if I leave the $64331 on Line M? 

I can't put it in directly to 8582.

In 2019, there is a form that is not in 2020.  Schedule E Rental Limitations for Personal Use.  Don't see it in 2020 nor in my 2021.

Thanks again, Christopher

[TaxGuyBill]

---

@chapguy19 wrote:

In 2019, there is a form 8582, with the $65331 totaled from 2019 and prior years.

---

As I said above, that goes on Line G.

---

@chapguy19 wrote:

In 2019, there is a form that is not in 2020.  Schedule E Rental Limitations for Personal Use.  Don't see it in 2020 nor in my 2021.

---

That amount, plus any unallowed rental losses for 2020, would go on Line M (and maybe some on Line L).

---

@chapguy19 wrote:

In 2019, there is a form 8582, with the $65331 totaled from 2019 and prior years.

---

I know nothing about the property, but that seems quite high for only being around since 2016, especially if there were also losses from that "other worksheet" that you mentioned ("vacation home" carryovers).  Personally, I would want to see all of the tax returns since 2016.