Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Lacerte Treatment of Real Estate Professional without material Particiption
Lacerte Treatment of Real Estate Professional without material Particiption
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
jimgsabbatini
Level 3
09-22-2022
02:06 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a client who is a Real Estate Professional. However with a certain rental activity he has not materially participated. On the K-1 I answer the question that he is a Real Estate professional.
I do not include any hours and I do not check that it is a passive activity or non passive activity.
Lacerte just assumes because I checked he is a real estate professional that the loss is allowable. My understanding is that he still must materially participate. The Real Estate professional is just allowed to group activities.
What am I misssing ?
Labels
