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Entering separate passive activities from a K-1 on Lacerte 1040

Chuckles
Level 1

I have a client with a partnership investment that has invested in 10 separate partnerships that each have losses from passive activities.  I need to report the losses from the lower tier partnerships separately on the 1040's Form 8542 and am not sure how to do that.

Do I set up a separate input Form 20.1 for each activity reported by the lower tier partnerships as if it was a separate partnership on the Form 1040?

Thanks for your help.

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1 Comment 1
sjrcpa
Level 15

Yes. Then track basis in  the main one, requiring additional input.


Ex-AllStar
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