This usually happens when you have personal use of the property. If you use the property for personal purposes for more than 14 days during the year or 10% of the time the property is rented, whichever is more, then you can't deduct expenses in an amount greater than the rental income. Your deduction will also be similarly limited if you rent the property for less than the fair market value of rent. So, you need to go back through TurboTax and review your entries to see how you responded to the questions regarding personal use and fair market value of the rent received.
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