Schedule E Bug?

Forum|Forum|3 years ago
February 26, 2023
1 reply
0 views

Trying to figure out if this is a bug. I own a rental property. For 2021, the amount listed under "Your Income" in TurboTax is the amount from Schedule E, Line 26 (Total rental real estate and royalty income or (loss)). But for 2022, the amount showing is from Schedule E, Line 21 (Subtract line 20 from line 3 (rents) and/or 4 (royalties)).

It looks like the calculation on the actual form is correct and I can't figure out why TurboTax is not showing the Line 26 amount this year under Your income. I want to be sure it's not throwing off other calculations, because there is a big difference between the amount in line 21 and 26.

Thanks.

TurboTax Premier Online

AmyC

Employee

No bug. Sch E losses can be limited for several reasons. Is this a passive or non-passive activity? If you marked that you are actively involved, you may be able to deduct up to $25,000. If it is passive income, you are subject to the passive income rules.

Your income may be above the threshold allowed for a full deduction which is causing a reduction.

You could have a carryover creating an issue.

Claiming MFS also changes the limits.

Reference:

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