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Thanks @PatriciaV , however, I didn't find any numbers present on line "Depreciation carryover" in my "Schedule E Worksheet". Is it a bug?
For my situation, say my rental income is 10000, less expense without depreciation as 9000. The net rental income is 1000. Now if my depreciation is 5000, Here are the numbers I saw
Schedule E line 18 (depreciation): 1000
Schedule E line 21,22 (net income): 0
Form 4652 line 19h, 22 (depreciation): 5000
Schedule E worksheet: 18a (Reported On Schedule E:( 1000
Schedule E worksheet: 18a (Vacation Home Loss Limitation:( 4000
And no depreciation loss carry on is reported in the Schedule E worksheet.
Is this the expected behavior?
Seems from that like your loss is limited to $4000. Which is the actual loss there. In which case there would be no carryover because you're using all of the available loss.
After taking a deeper look, it seems that this $4000 is also present in
Carryforward to 2024 Smart Worksheet: Vacation home depreciation. Does it mean the $4000 depreciation not used for this year is carried over not as a rental loss but a vacation home depreciation?
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