My understand that 199A was suppose to help deduction but when i enter renter loss on 199A my refund actually reduce by about $66.
I have a composite K1 , when i do my tax on turbotax i fill in 20 Z , leave amount blank and it ask me to fill 1099A info
I filled in rental income (loss) = -5000 (negative 5000)
i notice my refund reduce $66. is this correct because i thought the point of this was to help deduct 20% of income.
If I fill in rental income (loss) = 5000 (positive 5000), my refund actually increase by about $200.
This seem that my loss in rental with 199A actually hurt me more.
Can someone help me explain reason? can i just skip 199a so i don't have to lose some of my refund?
