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Investors & landlords
@eloisedaddy wrote:
Yup. Checked that. Personal use won. It was a outlier year because we used the place more during COVID. Others are correct, it all gets caught on the personal return.........
It "gets caught on the personal return" because you are entering the information from a K-1 (as a net rental real estate loss) rather than entering the information for the property in the Rental Properties section of the program.
Again, your rental is not a passive activity and losses (directly related to fair rental days) are not limited. If you want to test this out, enter the income and expenses in the Rental Properties section of the program.
March 10, 2022
9:46 AM