I have a short term rental on AirBnB and VRBO. For the second year now, expenses, exceed revenue. I understand that this is a passive loss and therefore it can only offset passive income. We do have other passive income. Turbo Tax Deluxe seems to be adjusting my depreciation so that the rental shows $0 income. This is when going through EasyStep. Last year it didn't do this. The Schedule E showed a loss for the rental, and it offset the other passive gains. This year Turbo Tax doesn't seem to want to do that. Has something changed? Can passive losses still be used to offset passive income?
