a clients' schedule E property did not transfer to 2020, the rest of the return did, help!!!!

[christinashaffer]

One of my clients has 2 rental properties, one is a condo with a lot of assets that are being depreciated, along with the condo.  Everything else, including 1 of the rental properties transferred from 2019 to 2020, the condo did not, anyone know what to do about this? I have the rest of the return completed, then was going to start on the condo and its not here.

[Just-Lisa-Now-]

Id go back and take a peek at the 2019 Sch E worksheet and see if Box H got marked by accident?

[TaxGuyBill]

Unfortunately, I think your only options are to either re-enter the rental property with all of the assets, or re-transfer everything from 2019 and re-enter everything else for 2020.

[christinashaffer]

That’s what I was afraid of...

[christinashaffer]

Actually it is marked, don’t know why...

[christinashaffer]

So if I uncheck it then I’m going to have to re-transfer in and redo the 2020? I tried to transfer it again and it says file exists and it won’t transfer. How do I get rid of the one sitting in 2020?

[TaxGuyBill]

I would first "Save As" the file under a different name, just in the the re-transfer does not work.

Then you can just delete the original transferred file (maybe right-click and delete).  Then re-transfer. 

[christinashaffer]

Ok I will try that....tomorrow. Thank you for the assistance, I hope it works!

[rbynaker]

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@christinashaffer wrote:

Actually it is marked, don’t know why...

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It's worth noting that you should review the prior year return.  If that box was checked then the system will allow passive losses when perhaps they should have been suspended.  If that's the case you may need to amend 2019 which will adjust the carryover of losses to 2020.

[christinashaffer]

Yes, I’m looking at that- I seem to remember someone told me to check that box when something wasn’t calculating properly last year. It was either someone from ProSeries or another accountant.