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M
msindc1
Level 5
May 3, 2021
Solved

Why is Lacerte Treating Foreign Rental Income as Non-1411 Business?

  • May 3, 2021
  • 1 reply
  • 7 views

Colleagues:

Client has $5000 in rental income from a property in the UK.  Lacerte is deducting that income from the Net Investment Income tax on Form 8960.  The schedule says "Adjustment for Non-Section 1411 Business".  But I believe that it is Section 1411 business, isn't it?  Anyone know what's going on?

Micah

This topic has been closed for replies.
Best answer by PKCPAMST

Please make sure there is no "1" in Field "1=nonpassive activity" in Section General Information of Screen 18 - Schedule E.

1 reply

P
PKCPAMSTAnswer
Level 6
May 3, 2021

Please make sure there is no "1" in Field "1=nonpassive activity" in Section General Information of Screen 18 - Schedule E.

    M
    msindc1Author
    Level 5
    May 3, 2021

    Ack!  That was it!  Grr--and I know better!  THANK YOU!

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