Thanks for the help, you have made a big difference. i think i have one final quesiton. My VA VRBO house had losses last year (as well as this year). i am not sure that this years return turbo tax 2022 properly incorporated my return from last year and may have not included some carry over losses. How do i ensure my 2022 turbo tax return incorporated the return from 2021???
For example, on my 2021 return for this rental on my Virginia worksheet, when i open my last years return, i see part II regular income/loss item 7. says passive disallowed loss (carry over to next year) = -5320.
I do not see that number on my 2022 return on the virginia worksheet. I believe i may not have incorporated the return from last year properly. Isnt this value supposed to be on my 2022 return somewhere.
the reason i have losses in 2021 and in 2022 is basically because it is a VRBO in a rural county with a low rent with only moderate activity but more over i just inherited the house and there have been lots of repairs and expenses getting the VRBO going. Can you please advise?? I believe this is my last big question on the VRBO.
