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

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

Pran
Level 2

Zero deduction on rental property

I am not a real estate professional but I own a rental property.  After I enter my expenses, mortgage, points etc under the schedule E, Turbo Tax shows my net loss on the property  as negative but "What you can deduct" as zero.  I am confused. Please help.
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

Zero deduction on rental property

losses on rental real estate when you are not a real estate professional are subject to the passive loss rules. so if your adjusted gross income is over $150K, no loss is allowed. look at form 8582. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies