K-1 with multiple activities

Forum|Forum|2 years ago
February 19, 2024
1 reply
22 views

How do I enter multiple activities from a K-1 instead of just entering it summarily?

For example, line 2 real estate loss is made of 3 activities. I don't want to enter the same K-1 3 times and trying to avoid it showing up on Schedule E (p2) as 3 seperate K-1s.

This topic has been closed for replies.

itonewbie

Level 15

Why?

If your client qualifies for the special allowance on F.8582, that will need to be allocated among all the activities to determined the disallowed loss for each.

---------------------------------------------------------------------------------Still an AllStar

T

taxguy80Author

Level 2

Nope. Materially participating but tracking each activity separately since not aggregating. Some have suspended losses from prior that needed to be releived upon disposition of activity.

also I have a k1 with 10 activities and 2 of them passive and 8 non passive.

itonewbie

Level 15

What's stopping you from creating just one other K-1 to enter the sum of all income/losses from F.8825's/Box 2 for rental R/E activities in which he materially participated, assuming he's a R/E professional?

---------------------------------------------------------------------------------Still an AllStar

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