itonewbie
Level 15
10-10-2020
02:49 PM
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Now that I re-read your question, I realize it's about CA reporting and not federal. Since CA doesn't conform to federal tax treatment of RE professionals, Lacerte will automatically compute PAL on the CA return. For CA tax purposes, you may need to segregate separate rental activities, which means proforma Sch E along with F.8582 may need to be prepared. Hopefully, someone experienced in CA would come along to give you better guidance.
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