@RustyShackleford wrote:
We've had a short-term rental property the last few years.
We've been able to take the passive losses
Let's back up a bit. Did you "Materially Participate" in the short-term rental? I don't know your circumstances, but unless you have a management company handling, it, I suspect you did Materially Participate in it.
If you did Materially Participate in it, any losses would have been non-passive and should have already been used (there would not be any carryover). I suspect you may need to amend your prior tax return(s) to claim that non-passive loss (although I don't think TurboTax is really set up for that well, which may be why you were not aware of it).
https://www.irs.gov/publications/p925#en_US_2023_publink1000104582
In the event you did NOT "Materially Participate" in the rental, was it attempted to be rented this year (are you talking about 2024?)?
