TaxGirl3
Level 5
07-05-2022
01:55 PM
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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!
Best Answer Click here
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