You were never rude. Your answers were pure & true like the baby pictured by your name. And I appreciate that. I'm just stupid, scared, frustrated, & just don't know how to communicate better. Much apologies for my approach & unintentional bad remarks & inquires.
I did my taxes several times & when adding improvements to cost of property sold I would pay hundreds in Fed & thousands in State taxes. When I took advantage of the Safe Harbor ruling & utilized expenses rental losses to reduce my capital gains (Schedules 1, D (carryover capital losses), & E) reflected huge expenses which significantly reduced my capital gains & taxes overall which yield a $1,000 diff in my favor.
I want to do the right thing but the only obstacle I have is from the IRS & Turbo Tax language which hints reduction of rental income only by the losses which leads me to think rental income is mandatory. But entries to Turbo Tax leads me into different scenarios which all leads me to the same question, "is rental income required before use of the Safe Harbor"?
