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Investors & landlords
Thanks @SusanY1 for the suggestion.
I compared the two 1040 summaries. I noticed that when I entered the asset for depreciation, my "
Qualified business income deduction" went all the way down to 0. This led to the increase in the net tax balance that was due.
The only difference between the two scenario is entering my rental property as an asset for depreciation. The amount changed immediately after entering the asset... any idea whether I may have done something wrong?
March 25, 2024
8:48 PM