$100,000 limit on rental property income

Forum|Forum|2 years ago
January 6, 2024
2 replies
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I read that TurboTax has a limit on the amount of rental income that can be entered, of $100,000.

Does anyone know if this is true, and for all versions?

Thanks, JHames

Best answer by DoninGA

Where did you read this and do you have a website link?

TurboTax follows IRS rules, regulations and calculations used in the program. There is not a limit for the amount of rental income you can enter on Schedule E, Supplemental Income and Loss

DoninGAAnswer

Employee

Where did you read this and do you have a website link?

TurboTax follows IRS rules, regulations and calculations used in the program. There is not a limit for the amount of rental income you can enter on Schedule E, Supplemental Income and Loss

JamesInORAuthor

Website

https://rentrax.com/which-tax-software-is-best-for-a-rental-property/

Seemed weird, thanks for helping. James

DoninGA

Employee

Just a FYI - What that website was referring to were the special passive loss limitations if you are filing as Married Filing Jointly and are an active participate with rental property. The special passive loss limitation is $25,000 and is reduced if your MFJ AGI is over $100,000.

This is described in IRS Publication 925, Passive Activity and At-Risk Rules starting on page 4 of the publication - https://www.irs.gov/pub/irs-pdf/p925.pdf

Mike9241

for desktop versions the limit is 999,999,999 (no cents). I would guess your rental income is significantly less because anyone with close to $1B in rental income is probably using a tax pro. Not sure of the online limit but i would be surprised if it wasn't at least $10,000,000