Get your taxes done using TurboTax

ThomasM125 · ‎April 18, 2023

First of all, a rental loss is a passive loss that is only allowed to be deducted against passive income and then up to $25,000 of ordinary income, provided your adjusted gross income is not more than $150,000. So your income could be limiting the deduction.

Also, you can only deduct a loss to the extent you are "at risk" in the venture, you would have seen a question regarding that when you entered your K-1 schedule.

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