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Can real estate rental property loss offset the Net Investment Income? Why doesn't Turbotax include the loss in Form 8960 line 4a?
1) I have rental property loss of $16K that I'd like to include on Form 8960 to reduce my Net Investment Income tax.
2) My 8960 reports my capital gains of 139K. However I've claimed Active Trader status and have investment and home office expenses in Trading of $12K, that I'd like to offset against the $139K.
How do I include these changes to my Net Investment Income calculation? Should I edit the Form 8960 directly, and how (I'm using Turbotax Online)?
2) My 8960 reports my capital gains of 139K. However I've claimed Active Trader status and have investment and home office expenses in Trading of $12K, that I'd like to offset against the $139K.
How do I include these changes to my Net Investment Income calculation? Should I edit the Form 8960 directly, and how (I'm using Turbotax Online)?
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‎April 3, 2022
12:09 PM