First Year with Short Term Rental

[clickr6]

I have input all the income and expenses into my schedule C and it is showing the negative net income. My question is why are all the expenses not being deducted. After entering in this new schedule C, the owed taxes dropped only about half of what I spent in expenses (40k). Is there a reason why all the expenses would not be deducted and considered a Loss against my owed taxes?

[MaryK4]

Your rental income losses will offset other income, so it decrease your  taxable income, not the tax amount.