We have a rental property used last year 20 personal days and rented 165 days. Therefore, the property is a short term vacation property. The property is owned by an LLC and we file a partnership F1065. Form 8825 is NOT limiting the loss - instead it is allowing a net loss allocable to each partner, although the K-1 does show Property type as ‘3 Vacation / S-Term’.
However - on TurboTax 1040 program there is no where to show that this loss should be limited to zero and carried over?
so my question is - shouldn’t the loss be limited to zero either at the partnership OR 1040 level - if do - How do I accomplish this
thanks in advance
