I actively manage my rental and its noted on my taxes and have losses totaling roughly $60,00 I should be able to deduct $25k but it says I cant deduct any losses. Why?

Level 15

Jul 10, 2020 4:46:02 PM

Review the form 8582 (and it's worksheet) carefully to see why your losses are limited ... https://www.irs.gov/pub/irs-pdf/f8582.pdf

Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets

Level 15

Jul 10, 2020 5:18:03 PM

In your other post you indicated you were a Real Estate Professional. If that is the case, verify that you entered that correctly in the program.

If you are NOT a Real Estate Professional, is your total income over $100,000? Over $150,000? Are you filing as Married Filing Separately?

Did you "Materially Participate" in each rental?

Did you use any of the rentals for personal use (and entered personal days)?

Why sign in to the Community?

I actively manage my rental and its noted on my taxes and have losses totaling roughly $60,00 I should be able to deduct $25k but it says I cant deduct any losses. Why?