vivianl78
Level 1
09-11-2021
09:06 PM
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How to generate the reconciliation on Line 43 on Schedule E for a real estate professional who meets the qualification to take losses and not as disallowed passive loss?
I have already checked "Real Estate Professional" box and marked as "Nonpassive activity". But losses still calculated as passive losses. Can someone please help?
Per Sec. 469(c)(7)B), real estate professional who materially participate in real property trades or business will not be subject to the rule where rental activities are treated as passive.
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