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K1 where to check to make it NON passive.

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Level 3
last updated ‎April 07, 2020 7:04 PM

I need to make the k1 NON passive.. but it is showing up on the sch E as passive... how do I switch this?

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Level 12
last updated ‎April 07, 2020 7:04 PM

@shf1957 wrote:

the only figure on this k1 is  rental loss


Rentals are passive unless the person is a Real Estate Professional (and materially participates in that rental).  It the taxpayer a Real Estate Professional?

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Level 15
last updated ‎April 07, 2020 7:04 PM

There are some boxes to check towards the top of the K-1 worksheet.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 3
last updated ‎April 07, 2020 7:04 PM

Honestly, I can not see that on the  computer program.. when entering a k1  first lines are for name and FIN  etc.. then there is the boxes for..public trade..  then general partner etc..  next to income is boxes stating .. stuff.. the only figure on this k1 is  rental loss....    where else would it be...  I see on  a copy of last years.. from another busn it falls under non passive... mine keeps going to passive..

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Level 15
Level 15
last updated ‎April 07, 2020 7:04 PM

Active participation? material participation?  why is it non passive?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Highlighted
Level 12
last updated ‎April 07, 2020 7:04 PM

@shf1957 wrote:

the only figure on this k1 is  rental loss


Rentals are passive unless the person is a Real Estate Professional (and materially participates in that rental).  It the taxpayer a Real Estate Professional?

View solution in original post