money  taxes


Question by  msbat (48)

How do you get your loss to carry forward on your 1040 schedule E?


Answer by  Chaneygirl (1755)

You should be using form 8582 passive activity loss limitations to carryforward your schedule E losses if they are passive.


Answer by  Stardancer (295)

You can't deduct losses (including a capital loss) to the extent that it is greater than the adjusted basis of your partnership interest at the end of the partnership's tax year. Any losses allowed of this limit can be carried forward indefinitely and deducted in a later year.

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