While clearing the Check Return errors, I accidentally selected "Treat all your rental real estate as a single real estate activity" Election. Where do I uncheck this?

Forum|Forum|6 years ago
April 19, 2020
1 reply
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Best answer by codaacct

I was able to find it under Other -> Elections then selecting on the upper right hand side of the screen "Misc. Elections". I then un-checked the box next to "Treat all rental real estate interests as a single activity [469(c)(7)(A)]"

itonewbie

Level 15

It is not possible for you to make that election from clearing diagnostics.

To make or remove the election, you need to go into each of your rental properties and enter or remove the number you assign for Rental real estate enterprise number if claiming safe harbor and/or Aggregate business number on the Qual. Bus. Inc. Deduction tab.

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

C

codaacctAuthorAnswer

Level 2

I was able to find it under Other -> Elections then selecting on the upper right hand side of the screen "Misc. Elections". I then un-checked the box next to "Treat all rental real estate interests as a single activity [469(c)(7)(A)]"

itonewbie

Level 15

That's a different election for real estate professionals with rental real estate businesses.

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

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