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@pm-zz wrote:

The loss numbers are irrelevant to the question.

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While that is true, I'm not going to help you through a question when the basis of the entire question seems really wrong.  I would be happy to try to help you if I understand why such a large loss occurred.  Without an explanation, something seems REALLY wrong and I wouldn't want to help you prepare an incorrect tax return.  With the limited information you have provided, it doesn't seem to be rented at Fair Market Value, in which case Schedule E could be the incorrect place on the tax return for it.