- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
One of my clients has a rental loss of the year, and proseries is not calculating it automatically like usual.
On schedule E Worksheet, I usually enter the property's info and click the boxes for "active participation" and "Material Participation", then i proceed to enter expenses.
Line 21 on Schedule E is resulting in a loss. However, line 22 "Deductible rental loss" is 0. If i scroll down it says "Passive dissalowed loss" all the way to the bottom. Nowhere in the return am i stating that this is a passive activity as the owner actively participates in the rental business.
The only way i got proseries to calculate this loss is by checking box "G" for "Other passive exceptions", I dont even know what that means.
Has anyone encountered the same issue?
Thank you
Solved! Go to Solution.