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Why does it look like turbo tax is allowing me to take losses on my rental property to reduce my AGI even though i show i am not a real estate professional?

 
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2 Replies
Carl
Level 15

Why does it look like turbo tax is allowing me to take losses on my rental property to reduce my AGI even though i show i am not a real estate professional?

See IRS Publication 527 at https://www.irs.gov/pub/irs-prior/p527--2019.pdf page 13, 3rd column. The section titled "Exception for Rental Real Estate Activity with Active Participation."

 

Why does it look like turbo tax is allowing me to take losses on my rental property to reduce my AGI even though i show i am not a real estate professional?

Thanks but I don’t qualify for the active participant and my AGI is way above the AGI limits which TT should know. 

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