Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

While clearing the Check Return errors, I accidentally selected "Treat all your rental real estate as a single real estate activity" Election. Where do I uncheck this?

codaacct
Level 2
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
codaacct
Level 2

I was able to find it under Other -> Elections then selecting on the upper right hand side of the screen "Misc. Elections".  I then un-checked the box next to "Treat all rental real estate interests as a single activity [469(c)(7)(A)]"

View solution in original post

0 Cheers
3 Comments 3
itonewbie
Level 15

It is not possible for you to make that election from clearing diagnostics.

To make or remove the election, you need to go into each of your rental properties and enter or remove the number you assign for Rental real estate enterprise number if claiming safe harbor and/or Aggregate business number on the Qual. Bus. Inc. Deduction tab.

---------------------------------------------------------------------------------
Still an AllStar
codaacct
Level 2

I was able to find it under Other -> Elections then selecting on the upper right hand side of the screen "Misc. Elections".  I then un-checked the box next to "Treat all rental real estate interests as a single activity [469(c)(7)(A)]"

0 Cheers
itonewbie
Level 15

That's a different election for real estate professionals with rental real estate businesses.

---------------------------------------------------------------------------------
Still an AllStar
0 Cheers