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Updated 3 days ago on . Most recent reply presented by

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19
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4
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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

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