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New Member
posted Mar 4, 2020 2:42:34 PM

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?

0 2 454
2 Replies
Level 15
Mar 4, 2020 3:23:37 PM

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."

 

New Member
Mar 4, 2020 4:31:10 PM

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