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VRBO rental income and expenses
Can anyone give me some input on why Turbo tax seems to adjust my expenses to the amount of my rental income. For example in 2022, i had approx 15K$ in rental income. The house was rented about 35% of the time throughout the year and i was there for three weeks working on the house doing improvements, repairs, etc. I had the AC fail and some other expensive repairs and the total for everything for the year came out to be around 22K$ out of pocket (including all the categories, tax, insurance, repairs, maintenance, advertising, travel, etc). So when I put in these numbers, Turbo tax adjusts the total out of pocket to the 15K$ number. It is like it will not let you deduct more than you received in income? It is like it will not let you take a loss more than 0$, when in fact i had a 22k-15k = 7$K loss.