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Rental Property loss deduction
I have a loss on a vacation rental property for 2020. My AGI is over $150,000. For some reason Turbo Tax is allowing me to deduct the loss, which I thought was not allowed. My other income is from wages, interest, dividends and a fee for serving as a director on a board. Shouldn't my loss be carried over and not deductible in 2020?
March 30, 2021
9:23 AM