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MAGI not correct for rental loss calculation
My AGI is below 150k (on 1040) but if adding back the rental loss for MAGI calculation, it will be above 150k, which should disallow me from deducting rental losses. Turbotax does not seem to be able to catch this and still reports a rental loss deduction on the final return (schedule 1, line9). Please let me know if there is a way to correct this?
‎April 13, 2020
12:28 AM