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I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

Forum|Forum|7 years ago
June 1, 2019
5 replies
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my first rental property has -11390

2nd rental property has loss: -37600

under section of property and loss result turbo tax shows allowed losses -11300 but zero for the 2nd property.

TurboTax Home & Biz Windows

Best answer by AnnetteB6

If you have more than one rental property and you are not being allowed to take a loss on each one, then you should double-check the answers to the "active participation" and "real estate professional" questions.

To do this, edit each property one at a time to verify your answers.

A

AnnetteB6

Check to be sure that your answers to the questions about active participation and being a real estate professional were answered the same way for both properties.

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H

hkhal4321Author

Well.Turbo tax first verifies the answers to participation and being a real state professional before you elect to edit entries of any rental property.so yes, I did verify it.Thanks

T

TerryA

Employee

The "active participation" TTAnnette refers to is per-rental and is a checkbox/question on each of them. Check the 2nd property for the answer to that question.

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hkhal4321Author

Thanks very much.it worked.

A

AnnetteB6Answer

If you have more than one rental property and you are not being allowed to take a loss on each one, then you should double-check the answers to the "active participation" and "real estate professional" questions.

To do this, edit each property one at a time to verify your answers.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"