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Partnership rental losses not showing on 1040

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Level 3

Have rental partnership losses not showing on 1040. They have basis to take the losses. Is there something I am not marking. I did not want to mark that it was not a passive activity. Yes their income will allow for a loss so that is not a problem. I have entered their basis.This is a new client and was wondering if I missed marking something.


thanks

Michele

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Level 14

Passive losses are not allowed unless there is an equal or greater amount of passive income. Look at the Form 8582.


ex-AllStar

View solution in original post

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5 Replies 5
Highlighted
Level 14

Passive losses are not allowed unless there is an equal or greater amount of passive income. Look at the Form 8582.


ex-AllStar

View solution in original post

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Highlighted
Level 14
The $25,000 exception for rental real estate with active participation probably does not apply to rental income flowing from a partnership.

ex-AllStar
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Level 3
I was looking at the 25,000 exception. The  husband and wife are sole owners of the properties. It looks like I would have to mark it as not a passive activity to get it to show
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Highlighted
Level 14
Under partnership K-1s there is a box to check "Actively participated in real estate"

ex-AllStar
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Level 3
thx
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