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busseller
New Member

My rental property expense is not correct, it should be greater than the rental income based on the info I entered, but it always matches the rental income.

My rental property expense is not correct, it should be greater than the rental income based on the info I entered, but it always matches the rental income. For example, I entered the HOA $340, however, it shows $198 on my schedule E 1040, I entered my repair $922.72, but it shows $537. This made my net profit to $0 instead of a negative number - my rental income was less than the expense last year. Not sure if this is a turbo tax bug, I use Mac Premier 2024.
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1 Reply
AnnetteB6
Expert Alumni

My rental property expense is not correct, it should be greater than the rental income based on the info I entered, but it always matches the rental income.

Go back through the Property Profile section for your rental property and double-check the number of personal use days that were entered.  If the property was converted from personal use to a rental (or vice versa), do not count any personal use days during the time before (or after) the conversion date.  

 

Personal use days are only considered if the property is used personally during the time that it is a rental property.

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