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Deductions & credits
I have followed the Turbo Tax prompts and your advice. I completed the property description, address, property info, etc. for an oil/gas royalty property and 3 rental properties. After all data is imputed for the tax return, I examined the tax return and find:
Schedule E, Part 1, Line A and Line 1a for the royalty property (on page 2) are BLANK. Those lines are completed properly for the 3 rental properties (on page 1). This has concurred for the last four years and chances are it will eventually prompt an audit. Why won't Turbo Tax treat royalty properties like rental properties. It is not providing the info requested by the IRS?
‎August 8, 2022
3:13 PM