Hi,
I moved out of my primary home in September, and converted to a rental property with tenants in place. Once calculated this property should show about a $6000 loss after calculating repairs, expenses and depreciation. However Turbotax will not allow for this property to show a loss, it stop at zero no matter what expenses are inputted. This is important because I believe I should be able to deduct that $6000 loss from the profits of other rental properties I own, or deduct from the gains that might occur in future years with this specific property. Is there some rule that does not allow me to claim a loss on a rental property that was converted from personal use during 2024?
