sstreit
Level 2
03-24-2021
10:15 AM
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Rental activities are considered passive by definition unless you are a real estate professional, which my client is not. If I select code 5 at the top of the worksheet for land and have a loss, Proseries calculates that as a passive loss but if there is profit, it changes to nonpassive. Doesn't make any sense at all. If I change the code to 4 which is commercial property, it stays passive with a profit or a loss. So, I changed the code to 4. Must be some sort of glitch with code 5. Can't think of any other explanation.