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S corporation sec 1231 gain
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leesheftel
Level 1
10-12-2021
02:19 PM
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Lacerte is classifying a sec. 1231 gain as passive when I did not classify the transaction as passive. Why is it doing this?
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PhoebeRoberts
Level 11
10-12-2021
02:57 PM
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On the delinquent 1120S, or on the timely 1040? Assuming on the timely 1040, go into your K-1 input and take the amount out of the line called Passive Net Section 1231 Gain and put it on the line called Net Section 1231 Gain.
