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Get your taxes done using TurboTax
After review of your return here are the results:
Although you did not enter your rental income or all of the expenses, the depreciation is the only item that is showing on your rental activity. For this reason it is showing a total loss from your rental property for the depreciation expense and reduces your overall income. This creates a much lower income before your actual net result and a lower tax over all. You have the correct results once you complete the rental portion of your return.
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‎February 14, 2024
12:55 PM