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October 17, 2019
Question

Why does Schedule 1, line 17 shows passive rental loss with AGI more then $150,000

  • October 17, 2019
  • 2 replies
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    2 replies

    Employee
    October 17, 2019

    "Why does Schedule 1, line 17 shows passive rental loss with AGI more then $150,000"

     

    That should obviously not be the result.

     

    However, Line 17 also displays losses from royalties, partnerships, S corporations, and trusts. If you only have losses from rental real estate, make sure you did not check any box in the rental section indicating that you disposed of the property. Also, make sure you did not inadvertently indicate that you are a real estate professional.

    Carl11_2
    Employee
    October 17, 2019

    One other thing too. Depending on what version of TurboTax you are using, you have not yet entered all of your income. So at this specific and explicit point in time the *PROGRAM* does not know what you final and definitive AGI is yet.