For many years we have rented out our dry stack boat slip and reported the income on our taxes. We've entered the amount of rent we've collected and the expenses we pay (HOA dues and assessments) and until now the income has been positive. Last year we bought a boat and only rented out our slip for 3 months of the year, then took it over for personal use and will continue this for the foreseeable future. Even though we have no plans to sell the slip, and we will continue personal use, a rental property loss deduction is populating on Schedule E. This doesn't seem/feel right since we wouldn't report any income going forward unless we elected to sell our boat and lease out the slip at some point again in the future. Am I doing something wrong? If so, how can I fix it?
