turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

2017 error: Rental property incorrectly shows $22,044 in revenue; should be $20,400. Net loss would have been $1644 more. Worth fixing on our CA and federal returns?

What is the deiffernce in return for Californai and federal?  What does it cost to use Turbotax and to correct an old return?  

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

2017 error: Rental property incorrectly shows $22,044 in revenue; should be $20,400. Net loss would have been $1644 more. Worth fixing on our CA and federal returns?

To first order, assuming you are able to fully deduct the loss in 2017, is $1644 * (your marginal federal tax rate + marginal CA tax rate).

If you have desktop for 2017, you just have to go back in and amend the return.  Cost is your time plus cost to mail the amended returns.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies