Schedule E loss carry forward

[nolanm]

Hi all

TP self prepared in 2019 and showed a loss on Schedule E of $35k. Took the $25k loss in 2019 and showed a disallowed loss in 2019 return of $10k. I believe I can carry forward to 2020 but am not sure where to enter it. I used the Federal   Carryover Worksheet and entered the $10k into Line 14a - Net operating loss available to carry forward.

Any views if this is correct? Does this qualify as an NOL and if not where do I enter the $10k.  E was a rental property with deprecation and other costs way exceeding rental income.

Thanks for any help

Nolan

[Just-Lisa-Now- · Accepted solution]

It doesnt sound like an NOL.

Scroll down the Sch E worksheet and you should find a place to enter the carryover of disallowed/suspended losses.

[nolanm]

ah thanks Lisa, I see it now. Entered as on schedule E in line 'G" as a passive loss carryover - Schedule E suspended loss.

Investment real-estate, so I believe passive is correct?

Thanks again Nolan

[Just-Lisa-Now-]

that sounds right!

[gfpstaxes]

What happens if the loss is during the last year of renting?

[Just-Lisa-Now-]

does the loss carryover to the 8582?  is the rental being sold or just not being rented anymore?

[gfpstaxes]

Just not rented anymore