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roaringbranch
Level 2

I own a house with 2 rental units. Why does TurboTax say that I have $25,000 in deductible losses, when that is clearly not so, and very different from previous years?

In 2021 my loss on this property was $2877. In 2022 income increased and expensed decreased, closer to breaking even. Something seems amiss in the Turbo program.
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1 Reply
PatriciaV
Expert Alumni

I own a house with 2 rental units. Why does TurboTax say that I have $25,000 in deductible losses, when that is clearly not so, and very different from previous years?

If you made a profit this year, your prior losses would be matched against the income this year. Is this the only business activity you report? It's possible another activity generated some of the loss. Finally, you should review your entries for Schedule E to be sure you don't have a typo in one or more numbers.

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