schedule e loss not showing

[janetk]

There is a rental loss on schedule E line 21 but it doesn't carry to line 22, therefore the loss is not being deducted from the 1040. Anyone know why this would happen?

[PhoebeRoberts]

What does Form 8582 look like?

[janetk]

That's it. The income is too high to take the loss. Thanks!

[ohiocpa17]

Hello - same type of situation. I have a client with a 28k loss (several months not payment and a eviction and many repairs.) and only a 58k income - mine is still zero. Why wouldn't the loss apply? 

[abctax55]

What does Form 8582 look like? (hi Phoebe)

Filing status?

[TaxGuyBill]

Personal days?

[sjrcpa]

Not actively participating?

[ohiocpa17]

I agree. I am a CPA  and saw the loss was not coming forward on the 1040. The 8252 is not applying it, and I have no reason for it not too. The activity is active. The full loss amount is displayed in Part VIII Allowed Losses, is in the a, loss column, and again in the b column, unallowed loss. The same amounts are in the previous section VII in Loss column and unallowed loss column. 

[ohiocpa17]

zero personal days. Its a duplex, and they live in one side.  A long term rental.

[ohiocpa17]

Thank you for all your ideas. I just loathe calling for PS help and wanted to try here first. 

It is way more efficient. Appreciate all your help!

[TaxGuyBill]

Hmmm.  That is weird.  Part 2 and 3 of the 8582 isn't showing the allowable loss?

[ohiocpa17]

Thank you, Tax Guy Bill! No, it is putting the amount in the Part 1 Passive - but it was not Passive, and I had marked active. 

[sjrcpa]

Active or actively participating? The latter is still passive. It just gets you eligibility for the $25K loss exception.

Actually all rentals are passive unless you are a real estate professional.

Is there a basis or at risk limitation here? Or did you indicate there was by mistake?