Pretty typic error message.
First, no reference in 8960 to “Net Rental Income Or Loss Amount," but my best guess are lines 4a, 4b and 4c. I have only self employment income, no rental income, but my self employment income is listed on 4a, it is then subtracted in 4b, and then 4c shows $0. Kind of a head scratcher since the error message itself states that if the rental income or loss is not equal to zero, then it needs to show up on Schedule 1.
Second, no reference in Schedule 1 to Rental Real Estate Loss Amount. Hmm.
BUT, the error message itself suggests what may be the problem. Three conditions are listed as necessary to have different amounts in 8960 and Schedule 1. Conditions 1 and 3 are inconsistent. If you are married and filing jointly, the filing threshold amount is $250,000, not $125,000. Turbotax correctly filled in $250,000. In my circumstance, lowering the filing threshold amount to $125,000 doesn't change my tax liability, so I forced $125,000 into the form (override function under the edit menu on a Mac) and then tried to refile electronically. Turbo tax wouldn't let me, so I am left with the option of filing paper. I understand that the IRS is pretty overloaded with paper due to staffing shortages so I really want to file electronically.
My thought, then, is rather than calling Intuit, I will call the IRS on Monday and see what they can do. Not optimistic about that, but I figure it is worth a try. If that fails, I will paper file and put on my patience hat. Wish me luck. I will report back. Good luck to you.
