Question
Schedule K-1 Rental Real Estate Activities is reporting farm rental as Nonpassive. How do I code Proconnect so it is reported as passive income?
Form 1065 for a Family Farm LLC. Farmland is rented out. Members are only involved in determining rental price. Members spend less than 20 hours a year on this property. But on each member's Schedule K-1, Partner's Share of Income, etc, the supplemental inform reports the year end distribution as "NonPass" Based on facts, the income/distribution would be Passive. How do I code Proconnect to show as Passive?
