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why are my rental income and deductible losses shown as zero?

 
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3 Replies
ThomasM125
Employee Tax Expert

why are my rental income and deductible losses shown as zero?

I think you mean you have a loss on your rental activity but it is not being deducted from the other income on your tax return. This will happen if you rent your property for less than fair market value or if you use the property for personal purposes for the greater of 14 days or 10% of the time it was rented during the year. 

 

Also, you can normally only deduct up to $25,000 of a rental loss against personal income each year, but that is not true once your income is over $150,000. 

 

If you think these constraints do not apply to you, you will need to review your rental entries and make corrections as needed.

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why are my rental income and deductible losses shown as zero?

I am not looking to harvest a loss. I fear that the rental income section might be missing information 

DianeW777
Employee Tax Expert

why are my rental income and deductible losses shown as zero?

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions:  (Don't forget to give us the state)

 

TurboTax Online:

Open your return -Go to the menu panel on the left side of your return and select Tax Tools. 

  1. Then select Tools below Tax Tools.
  2. A window will pop up which says Tools Center.  
  3. On this screen, select Share my file with Agent.
  4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number.
  5. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information.

TurboTax Desktop:

If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:

  1. Click on Online in the top left menu of TurboTax Desktop for Windows
  2. Select 'Send Tax File to Agent'* > Follow the prompts to reach the token number.
    • Enter your email used for TurboTax > Enter your code > Send
  3. Write down or send an image of your token number and state then place in this issue.
  4. We can then review your exact scenario for a solution.
  5. Please also tell us any states included in the return. This is necessary for us to view the return.
    • *If using a MAC, go to the menu at the top of the screen, select Help, then, 'Send Tax File to Agent')

 

We will be able to see exactly what you are seeing and we can determine what exactly is going on in your return to provide you with a resolution.

 

@mohammad-pournik 

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