It appears that your $1,000 is disallowed this year and may be able to be claimed next year. There may be two reasons why it was disallowed for this year.
- Go to the property profile section of your rental property and see if you indicated you were an active participant of the property. If that Box is unchecked, you may need to check it but before you do, read my second reason.
- If you have an adjusted gross income amount above $150,000, you are not allowed a passive loss against income and the loss will be carried forward next year.
Check your Schedule E worksheet for your property. Scroll down to Carryforward to 2023 Smart Worksheet and see if you have a passive loss carryover for $1,000.
@catance
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