Hello All,
I have converted my primary home to a rental and it was rented for only 1 month in 2024. The gross income is 3099 in 2024 and net income is 141. I have indicated in turbotax that i don't qualify as a real estate professional. But somehow this income is getting treated as active income and increasing my federal taxes by ~1k . I have other rentals which are reported correctly. Not sure what's with this new one I added. I can provide any additional details and appreciate any help others can offer.
Thank you.
