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Investors & landlords
You may have an earned income or similar credit that decreases as your income decreases. That could result in your tax going up as you add more rental expenses. You can check on this by looking at line 27(a) on your tax form 1040.
You are not supposed to pick and choose which deductions you will take on your tax return, especially if it reduces your tax when you leave deductions off. You are required to report all items of income and associated expenses on your tax return.
I suggest you look at line 27(a) in particular on your tax return and also see how the other items of income, deduction and credits change when you add or remove the expenses.
You can view your form 1040 while working in the online version of TurboTax by following these steps:
While working on your return in the Federal section of TurboTax:
1. Choose the Tax Tools icon on your left menu bar
2. Tools
3. View Tax Summary
4. Choose the Preview my 1040 on your left menu bar
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