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JaneLi
New Member

Loss Carry Over from the active rental was treated as deductible to taxable income

Hi there, 

 

I sold a rental property in 2024 which has loss carry over and capital gain. I also have another rental which has been active in 2014. 

 

I followed the interview questions for rental section, on 1040 sch E the sold one was marked as disposed; and active one was NOT marked as disposed (disposed box is blank); and I'm not considered as a real estate professional. On the schedule E, for the sold rental property, the deductible was loss carry over amount plus 2024 loss. The part confused me is for the still active rental, on SchE it also says the deductible was all loss carry over from previous years plus 2024 loss. This is not right? How can I manually remove the deductible for the active rental from my turbo tax return? If I follow the interview questions, turbo tax automatically consider the loss from the active one as deductible. I deleted this active rental and redid the update the result is the same. Could this be  a bug?

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