Last year I was able to deduct my full net loss of -13349 on my property. This year it is stating I can't deduct anything on my net loss of 14,100. What changed?
Announcements
Do you have a TurboTax Online account?
We'll help you get started or pick up where you left off.
Last year I was able to deduct my full net loss of -13349 on my property. This year it is stating I can't deduct anything on my net loss of 14,100. What changed?
Last year I was able to deduct my full net loss of -13349 on my property. This year it is stating I can't deduct anything on my net loss of 14,100. What changed?
Loss from what, on what kind of property? Rental income/expenses for residential rental real estate maybe, that you are reporting on SCH E as a part of your personal 1040 tax return?
Last year I was able to deduct my full net loss of -13349 on my property. This year it is stating I can't deduct anything on my net loss of 14,100. What changed?
look at form 8582. it sounds like your loss is from a passive activity. as income goes up the deductibility of passive losses goes down. O just maybe you incorrectly answered a question about the activity.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.