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April 2, 2025
Question

Should the profit / loss from schedule E not be taken into account in my personal tax picture?

  • April 2, 2025
  • 1 reply
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after adding the details of profit and loss from rental properties, the amount due didn't change for my filing

    1 reply

    April 2, 2025

    if it's on schedule E, to the extent allowed, it flows to schedule 1. However, Schedule E rental income/loss is passive, meaning that if you have an adjusted gross income of over $150,000, none of those net passive rental losses are allowed. look at Form 8582, line 11, which has what's allowed.