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Level 2
September 26, 2021
Question

how to make lacerte enter the rental real estate losses form a partnership on the k-1 when the beneficiary is a real estate professional

  • September 26, 2021
  • 1 reply
  • 14 views

i have a trust with rental real estate losses from several partnerships.  the trust beneficiary is a real estate professional and i want the losses to pass through on the k-1 in accordance with the Aragona Trust decision.  how do i force lacerte to not limit the losses.  i have put in the 1's for not a passive activity, actively participated, real estate professional, amount at risk.

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1 reply

sjrcpa
Level 15
September 26, 2021

You want a different presentation on the K-1 from the trust?

Aragona dealt with activities of the Trustees; not the beneficiary.

The more I know the more I don’t know.
vmannAuthor
Level 2
September 26, 2021

trustee is beneficiary