Ruth1
Level 4

This property has been a rental for a dozen years and continues to be so. Its just Covid that made the rental less than this past year.

I did think that you had a an option to continue as a rental as opposed to not acknowledging the income /expense under 14 days.  

My real question is:

I input the property as with personal days of 42 and rental days of 7 and am wondering why I am getting the full loss from the SCH E plus carryovers.  I generally trust what Lacerte does so I am trying to figure this piece out.  Why is the software calculating the full loss plus C/O and allowing it on SCH 1?

 

0 Cheers