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Level 2
May 20, 2021
Question

Partnership Return - Tab 17 - Passive property vs nonpassive property status

  • May 20, 2021
  • 1 reply
  • 11 views

I have a delima.    three partners, two non-passive and one is passive.  

Does the property box on Rental Real Estate (Screen 17) need to be checked as passive or nonpassive.    Can you fix it so that two have nonpassive status while the third partner shows it as passive?

 

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1 reply

PhoebeRoberts
Intuit Community Champion
May 20, 2021

That notation isn't asking whether the partners actively participate; it's asking whether the activity itself would generally be considered passive (like an apartment building) or active (rental of bare land or an average rental period <7 days, or significant services provided.

 

hardshellAuthor
Level 2
May 20, 2021

Thanks