Hello,
i have a few rental properties and i have been taking depreciation on the last few years. i have been using turbotax for the last 3 years. This year when after i entered all of the rental income / expenses / depreciation, there is a netloss on the property, but it says "What you can deduct at this point: zero".
I checked the 2022 trubo tax and i can see that it did show that I can deduct the same amount as the netloss.
This year, none of them is allowing me to and all showing "zero".
Some rental properties are owned by a single person LLC, and some of them is a direct name ownership and they all showing a zero on deduction.
Eventho it says you can deduct is zero - it did sum up all the "netloss" across all the rental properties & roytalties section, and display a net -26669 in the Business Income and Expenses.
What is the reason why that it says i cannot take any deduction, but still showing a -26669 in the Sche E?
Later on a few screens later - it says i am getting a QBI of $5999. I do not understand where this $5999 come from. And this $5999 appears to the be total deduction i can get and not the -26669. Can you help clarify this for me?
