Okay, I notice one thing:
Of my three rental properties, one is my vacation home, which I rent it out most of the time. If I put my personal use for 5 days, the rental loss will be carried over, Form 1040 Line 5 will be 0.
However, if I put personal use as 30 days, (it is on the market for 11 months, but actually only renter occupied for 90 days), then the combined net rental income (which is loss), will be permitted in 1040 Line 5, to offset this year's income.
-Does that make sense? Is that correct? My income is still above $150k, why can I claim loss? Why more personal use on one of the rental properties should change this entire rental income status?
I used to use another tax software; this is my first year switched to Turbo tax. The other software still not allow to use the rental loss, regardless I put down 5 days or 30 days. Vs Turbo tax gave two completely different answers.
Thank you for your help in advance!
