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I am trying to enter expenses associated with a basement rental property that we managed as an AirBnB. Over the last few years, this has not been an issue, but for some reason this year, as I enter expenses, only 10% of the expenses are showing up in the summary. This is true for expenses that might be prorated (like real property tax), but not for others that should be 100% allocated to the rental (i.e., cleaning fees). For some reason, however, 100% of my management fees are showing up in the summary. Is this a bug? Maybe the expenses will show up correctly once my forms are completed?
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If you are using an online version of TurboTax, you most likely should switch to a desktop version where you would have access to Forms Mode and the Schedule E Worksheet.
Your scenario is difficult, if not impossible, to enter in the Interview Mode.
If you are using an online version of TurboTax, you most likely should switch to a desktop version where you would have access to Forms Mode and the Schedule E Worksheet.
Your scenario is difficult, if not impossible, to enter in the Interview Mode.
Thanks for the quick reply @Anonymous_. Why should this be so complicated? And why would the online site automatically be prorating my expenses at 10% of their value, while the desktop software wouldn't?
Sorry, I have spent 2 hours today on the line with Turbotax "specialists" and no one seems to be able to tell me what the problem is beyond suggesting I upgrade to get live help from a CPA. When this is not a tax issue, but instead seems to be a data entry glitch? That I was advised to clear my tax forms after having them nearly complete, only to leave the issue unresolved?
@acf280 wrote:
Thanks for the quick reply @Anonymous_. Why should this be so complicated?
It is complicated in the online versions since those versions do not support Forms Mode, as do the desktop (installed) versions.
With the desktop versions you have access to the actual forms and worksheets where you can make direct entries.
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