passive loss
how do i report passive loss from prior years on an asset that has been disposed of in 2009 form 8582 and 4797
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Jakpa
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10/14/10 5:07pm PDT
Viewed by asker 10/24/10 4:58pm PDT
Viewed by asker 10/24/10 4:58pm PDT
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PhoebeRoberts
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The solution
The entry fields for the passive loss carryforward are at the bottom of the appropriate screen for the activity - so Sch E, or the K-1 input screen, or whatever. Check the "disposed of entire activity" box at the top of that screen, and Lacerte will free up the losses appropriately.
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