Hi. How do I report my commercial and residential real estate in Turbo Tax 2021 desktop edition?
The walk through is only asking about residential properties. It doesn't show anywhere else where to put commercial properties. I read on Publication 527 that they're depreciated at different rates though no table is given for the commercial property.
Additional questions if anyone else knows:
Do they go mixed together in Schedule E?
What are my loss limitations for so-called passive income?
How much can I carry over in losses next year?
Additional info to make sure I'm putting them in the right place (Schedule E not Schedule C):
I have 4 commercial properties rented out, 2 residential properties rented out, and 3 vacant residential properties. Though I actively manage and repair them, renting is not my primary source of income.
Thanks for any and all help.
