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oorozco
New Member

Why does my Schedule E (for rental properties) say my net income is zero dollars? I have clearly made profit By subtracting on my 1099-Misc from the property manager by all the expenses. I have also entered my depreciation since prior years.

 
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1 Reply
DianeW777
Expert Alumni

Why does my Schedule E (for rental properties) say my net income is zero dollars? I have clearly made profit By subtracting on my 1099-Misc from the property manager by all the expenses. I have also entered my depreciation since prior years.

It depends. Check the Property Profile or Rental Info section to be sure you answered 'Yes' it was always rented at 'fair price similar to other properties' or 'fair rental price' depending on whether you are using TurboTax Online or TurboTax Desktop.  This decides if you are renting this property with a profit motive, regardless if you have a loss.  

  1. In TurboTax, search (upper right) for rentals and select the Jump to link 
  2. Select Property Profile or Rental Info
  3. Continue to the question in the images below and noted above.

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