Do I need to enter 'income against which limited partnership losses can be claimed' if first year of rental income at loss?
the rental property was inherited with my brothers so I chose 'partnership'. this is the first year the expenses surpassed the rental income because it was vacant part of the year.
Do I need to enter 'income against which limited partnership losses can be claimed' if first year of rental income at loss?
You need to enter your rental property income and expenses as well as your partnership details for the rental property under the Rental Property section of TurboTax. Choose Rental Property from the left hand navigation to access this info and enter your income and expenses.
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