Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

19
Posts
4
Votes
Sweta Jain
4
Votes |
19
Posts

Passive loss carryover mistake

Sweta Jain
Posted

Hi, 

While filing my taxes for this year using turbo tax and filing my rental details, I noticed that in passive loss carryover section, turbo tax pulled numbers for "Regular Tax Carryover" and "AMT tax carryover" from my previous return. 

I realized that my  "AMT Tax carryover" is less than my "Regular Tax Carryover" because in 2022 I put "0" by mistake in "AMT tax carryover" while filing tax with turbo tax.  "Regular Tax Carryover" is correct and consistent.

So I went back and amended the 2022 return through turbo tax (fixed the AMT carryover number to match the regular tax carryover) but looking at the 8582 form and schedule E, I dont even see "AMT" carryover mentioned anywhere. 

Forms looks exactly same as my orginal return! (only difference is seen in worksheets which show regular and AMT tax columns but I guess thats not even submitted to IRS).

So my question is : do i need to even file this amendment?? Or just change the number in current year turbo tax for AMT carryover??

Thanks

Shikha

Loading replies...