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First, ignore the summary pages. Look at the actual tax return (Schedule E).
Second, did you enter any "personal" days? Or was it a rental the entire year?
If you're talking about the "Net Income Summary" screen, it's because your depreciation is included in that expense amount. Remember, that screen is just a summary. Nothing more. Nothing less.
Yes the net income is showing $0, but I am talking about the expense detail. For example, I entered a mortgage interest of 4370 - on the expense detail, and expense detail comparison from the year before it is showing 2909 - not at all what I entered. The depreciation was also calculated at somewhere around 3900 but on the expense detail page, it shows around 810. This is also occurring for insurance, and a couple of other items. Shouldn't it reflect exactly what I enter, and shouldn't the depreciation be reflected the same? I fear this is leading miscalculations in my return. I've never had this happen before and I've had this rental for nearly ten years with both ups and downs.
Yes the net income is showing $0, but I am talking about the expense detail. For example, I entered a mortgage interest of 4370 - on the expense detail, and expense detail comparison from the year before it is showing 2909 - not at all what I entered. The depreciation was also calculated at somewhere around 3900 but on the expense detail page, it shows around 810. This is also occurring for insurance, and a couple of other items. Shouldn't it reflect exactly what I enter, and shouldn't the depreciation be reflected the same? I fear this is leading miscalculations in my return. I've never had this happen before and I've had this rental for nearly ten years with both ups and downs.
First, ignore the summary pages. Look at the actual tax return (Schedule E).
Second, did you enter any "personal" days? Or was it a rental the entire year?
There was some time that it was not rented - about 3 months. I used that time to clean it up and get it ready for the next tenant.
As I asked before, did you enter any "personal" days?
Ok it looks like I did actually put in personal days! I must not have been paying attention when I first did it. I fixed it and it changed everything.
Thanks!
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