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L
leesheftel
Level 1
October 12, 2021
Question

S corporation sec 1231 gain

  • October 12, 2021
  • 1 reply
  • 12 views

Lacerte is classifying a sec. 1231 gain as passive when I did not classify the transaction as passive.  Why is it doing this?

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1 reply

PhoebeRoberts
PhoebeRobertsIntuit Community Champion
Intuit Community Champion
October 12, 2021

On the delinquent 1120S, or on the timely 1040? Assuming on the timely 1040, go into your K-1 input and take the amount out of the line called Passive Net Section 1231 Gain and put it on the line called Net Section 1231 Gain.

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