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Investors & landlords
If you used the house for personal purposes for the greater of 14 days or 10 percent of the time it was rented during the year, then the property is considered a personal dwelling unit and as such you can only deduct rental expenses up to the amount of your rental income.
So, you will not be able to deduct the full loss in this circumstance. That my be why TurboTax is limiting your rental deductions.
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March 17, 2022
1:29 PM