How do I enter passive and nonpassive income from a S-corp Schedule K-1?

Forum|Forum|6 years ago
December 7, 2019
2 replies
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Entering Individual Passive & Nonpassive Income From an S-Corp Schedule K-1

I'm specifically looking for where to enter the nonpassive income and loss, on page 2 of schedule E, line 28, box (h) Nonpassive loss from Schedule K-1. I attached a screen shot of the form with the box outlined in red. I don't know where to input that information and when I go to check return, that area doesn't have a blue box that I can double click to take me there.

Any help would be very much appreciated.

ProConnect Tax Online

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Best answer by TaxMonkey

Whether the income from an s-corp is passive or not passive is controlled by the check box on part II of the S-corp info labeled "Not a passive activity".

T

TaxMonkeyAnswer

Level 7

Whether the income from an s-corp is passive or not passive is controlled by the check box on part II of the S-corp info labeled "Not a passive activity".

K

kathycpa

Level 3

If I check material participation, it lists the loss as non passive .....but then offsets the loss with the passive gains. I thought passive gains cannot be used to offset the nonpassive loss.

George4Tacks

Level 15

You likely need to create a second S-Corp entry to create the nonpassive income.

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