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hkhal4321
New Member

I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

my first rental property has  -11390

2nd rental property has loss: -37600

under section of property and loss result  turbo tax shows allowed losses -11300 but zero for the 2nd property.

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1 Best answer

Accepted Solutions
AnnetteB
Intuit Alumni

I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

If you have more than one rental property and you are not being allowed to take a loss on each one, then you should double-check the answers to the "active participation" and "real estate professional" questions.

To do this, edit each property one at a time to verify your answers. 

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5 Replies
AnnetteB
Intuit Alumni

I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

Check to be sure that your answers to the questions about active participation and being a real estate professional were answered the same way for both properties.
hkhal4321
New Member

I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

Well.Turbo tax first verifies the answers to participation and being a real state professional before you elect to edit entries of any rental property.so yes, I did verify it.Thanks
TerryA
Intuit Alumni

I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

The "active participation" TTAnnette refers to is per-rental and is a checkbox/question on each of them. Check the 2nd property for the answer to that question.
hkhal4321
New Member

I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

Thanks very much.it worked.
AnnetteB
Intuit Alumni

I have 2 rental properties i entered expenses for each property but turbo tax allowed me to deduct the losses on one property and zero for 2nd one.what am i doing wrong

If you have more than one rental property and you are not being allowed to take a loss on each one, then you should double-check the answers to the "active participation" and "real estate professional" questions.

To do this, edit each property one at a time to verify your answers. 

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