beagle83
New Member

Get your taxes done using TurboTax

Thanks for the detail - I guess the thing I don't understand is including Schedule E part - line 3 is Rents Received. Should it not be Line 24 (Income?).

 

Rent expenses are not deductions but a way to get to Income from the property. I could gross 100K but if my expenses are 110K I don't see how I have 100K in gross income. 

 

This seems like a formula error to me unless there's some unique way that TurboTax is treating the term "Gross Income"