TaxGirl3
Level 5

Client borrowed money to invest in an LLC (rental property with a triple net lease).  Client is a real estate professional, but does not materially participate in this activity and so the interest on the borrowed funds should be treated as a passive item and reported on Form 8582 (and then Sched Ep2).

 

How do I enter the interest in Lacerte?  Is there somewhere specific, similar to UPE entries?  Do I just use a second K-1 input screen?  Something else?

 

Thank you!

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