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Question

i have rental property

Forum|Forum|3 years ago
April 17, 2023
1 reply
0 views

i have a loss on rental property, no rent coming in cause of previous renter and it took me a year to repair it with new floors, but it will not let me take the loss , what do i do?

Rental Property

Employee

It's possible you have a passive loss to carryover until next year when you have income to report.

Note that if you indicate that the property was not rented during the year, all historical information (including Schedule E) will be deleted from your return. To avoid this, either say it was rented all year (365 days) or enter one rental day. This preserves the historical information (a work-around for TurboTax limitations).

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