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Investors & landlords
I took my filed 2021 TT (I'm using Premier not the online version) and I'm just running through some scenarios for this year, so I'm 99.99% confident it's correct, and I do make a enough income that I generally don't get a tax break, TT normally informs me of that after I enter all my income for the rental section.
I did triple check everything and when I enter a $20k remodeling depreciation federal tax owed goes UP $26, after entering the new asset, I also went through the state review and did a final check twice and TT does not report any errors.
Assuming its the AMT that is getting me, it seems like I'd be better off not claiming this expense.
‎January 16, 2023
1:07 PM