TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Employee

Question

I own a house with 2 rental units. Why does TurboTax say that I have $25,000 in deductible losses, when that is clearly not so, and very different from previous years?

Forum|Forum|3 years ago
March 20, 2023
1 reply
0 views

In 2021 my loss on this property was $2877. In 2022 income increased and expensed decreased, closer to breaking even. Something seems amiss in the Turbo program.

TurboTax Premier Online

Employee

If you made a profit this year, your prior losses would be matched against the income this year. Is this the only business activity you report? It's possible another activity generated some of the loss. Finally, you should review your entries for Schedule E to be sure you don't have a typo in one or more numbers.

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