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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- how to make lacerte enter the rental real estate losses form a partnership on the k-1 when the beneficiary is a real estate professional
how to make lacerte enter the rental real estate losses form a partnership on the k-1 when the beneficiary is a real estate professional
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vmann
Level 1
09-26-2021
04:11 PM
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i have a trust with rental real estate losses from several partnerships. the trust beneficiary is a real estate professional and i want the losses to pass through on the k-1 in accordance with the Aragona Trust decision. how do i force lacerte to not limit the losses. i have put in the 1's for not a passive activity, actively participated, real estate professional, amount at risk.
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3 Comments 3
vmann
Level 1
09-26-2021
04:23 PM
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trustee is beneficiary
BobKamman
Level 15
09-26-2021
04:47 PM
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It also dealt with taxes owed on the trust's 1041, and had nothing to do with the 1040 taxes of the trustee or beneficiaries. From what I can figure out, the trust had loads of investment income, and wanted to offset it with rental losses.
