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- Schedule E for PTP basis calculation required checkbox
Schedule E for PTP basis calculation required checkbox
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mhkdgal
Level 4
07-30-2021
06:19 PM
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Client has a K-1 from a PTP that shows a loss in box 1 and also shows he received a distribution from the partnership. Lacerte is not putting a check in the basis calculation required box on page 2 of the Sch E. Shouldn't it have the basis calculation required box checked?
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George4Tacks
Level 15
07-31-2021
05:59 PM
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From Schedule E instructions:
"If you had a loss from a partnership that was not allowed last year because of the basis rules, but all or part is allowed this year, see Line 27, later, for how to report it."
Do you have a loss reported on line 28?
Here's wishing you many Happy Returns
mhkdgal
Level 4
08-02-2021
05:09 PM
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There is no loss reported on line 28 of the Sch E.
