I am using Turbotax premier. Before entering my rental property numbers, the IRS owns me $1700. I have a small one-bedroom apartment for renting. Monthly charge is about $1100/month. After all the HOA fee, management fee, property tax, repairs and etc. The turbotax shows that my profit is about $1300/ year. But now I own IRS $500. It like charging me $2200 tax on it. Does it make sense? TIA.
