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Get your taxes done using TurboTax
Thanks. The limitation of my business expenses is based on the portion that I already prorated to business. My personal expenses were already segregated from that. Schedule E Worksheet shows it as a limitation and disallows anything over the revenue amount. It doesn't calculate a loss carryforward either. It just disallows the excess business expenses. I am still perplexed. Even though this is nonpassive income, can't I carryforward the loss that is disallowed this year?
‎February 27, 2022
2:39 PM