Short Term Rental input to restrict losses

Forum|Forum|3 years ago
August 30, 2022
1 reply
25 views

In the event you have a rental that has average rental days of less than 7, the losses will not be allowed. They carryforward. If I input the property as a short term rental and still have a loss, the schedule is allowing the loss. What input is necessary to restrict that loss? In this case there are no services provided and thereby is being reported on the Schedule E.

Lacerte Tax

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qbteachmt

Level 15

You are already being helped where you first asked:

https://proconnect.intuit.com/community/lacerte-sdk-group/short-term-rental-data-entry/gpm-p/229721

No need to keep starting the same topic.

Did you use google search:

lacerte schedule e

https://proconnect.intuit.com/support/en-us/help-article/federal-taxes/enter-vacation-home-schedule-e-lacerte/L96UqbDIE_US_en_US?uid=l7ggze7d

Don't yell at us; we're volunteers

A

arounAuthor

Level 3

They were not able to solve the issue and that is the wrong place to ask the question according to the responses. In addition, the link you provided is related to vacation home expenses. That is not truly tied to the problem I an experiencing.

qbteachmt

Level 15

You stated it was less than 7 days. Are you describing 7 days in the year, or 7 days at a time, such as, AirBnB?

Don't yell at us; we're volunteers

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