You are correct, the passive losses should offset passive income from rental activities. You need to verify that this is not being done, by looking at line 5 on schedule 1 of form 1040. That is where your net rental income will be reported.
You can view your form 1040 and schedules 1 to 3 while working in the online version of TurboTax by following these steps:
- Click on Tax Tools in the left menu bar
- Click on Tools
- Look under Other Helpful links….
- Choose View Tax Summary
- Look in the left menu bar and choose Preview my 1040
- Scroll down the page to see form 1040 and schedules 1 to 3
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