My return drops dramatically as soon as I begin my rental income section. I haven't entered any information or deductions yet. Why is this?

This happens during the wages and income section. We live in Brooklyn, NY and rent out the Garden Level of our townhouse. Does this have anything to do with the new tax laws?

posted

It can have something to do with that, but more than likely you are adding more income to the program which means you have more taxes to pay. Turbo Tax calculates every time you add information to the program. Check again once you add all the income, deductions and expenses of the rental.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"