How to populate form 8582?

Tbsksoe
Tbsksoe Member Posts: 2 Newcomer
in Filing my taxes

Hello, I had a form 8582 last year (not using freetaxusa) to go along with my Schedule E for a rental property I have. It doesn't look like Freetaxusa populated one for me this year, how can I make sure I populate or add one, or what may have I answered incorrectly so that it's not prompting for one or showing me one. Thank you so much for your help

· Share on Twitter

Answers

  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 340

    The Form 8582 is for Passive Activity Losses. The software will automatically calculate your rental losses and apply them to Form 8582 as needed.

    · Share on Twitter
  • Tbsksoe
    Tbsksoe Member Posts: 2 Newcomer

    @MatthewD I did have losses, but no 8582 populated. So that is correct? Anyway I can revisit something to doublecheck? Thank you for the help

    · Share on Twitter
  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 340

    Hello,

    Yes, that is likely correct. The tax software will calculate how much your passive losses are and apply them as allowed. They may have all been applied to 2023.

    · Share on Twitter

Categories