Despite putting that my property is rented every day below fair value and having a loss, TurboTax still wants me to take a ($4,600) loss on my taxes, when it is disallowed. It stuck my rental into a Sch E.
Do I still need to report this property or income if I'm renting far below market value and at a loss? The losses are disallowed. All other answers say to report the income as Miscellaneous Income but I did not make money off this property and have no intention to.
Thanks!
