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D
davidmupchurch
January 30, 2020
Question

I had a loss on rental property due to repairs needed, high taxes, and insurnace. Why is Turbotax not allowing rental property loss deduction?

  • January 30, 2020
  • 1 reply
  • 0 views
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1 reply

M
MayaD
January 30, 2020

Rental income is considered Passive income so are the expenses. 

You can only deduct the passive losses from your passive income. However,  you can carry over the losses to next year and deduct it from your rental income.

 

 

 

 

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