Investors & landlords


@Maverick67 wrote:

This was then applied to the 1040 line 7a giving me negative income in 2019...Am I missing something?


Yes. The sale of business property (here property held for rental use) can generate a net operating loss (NOL) if the property is actually sold at a loss.

 

You should determine whether or not you had an NOL for 2019 (note that TurboTax does not support the calculation of an NOL).

 

See https://www.irs.gov/publications/p536#en_US_2020_publink1000177318