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Level 4
April 20, 2023
Solved

Changing "Passive" to "Non-Passive" income in Proseries

  • April 20, 2023
  • 1 reply
  • 29 views

I have a client with a K-1 (Form 1065 for an LLC).  Based on the information I entered, Proseries automatically treats the income/loss as "Passive".  However, the K-1 states the income/loss should be recharacterized as "Non-Passive" based on an exception for the type of business it is.  How do I change this from Passive to Non-Passive in Proseries?

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Best answer by dkh

There are several check boxes for line 1 and line 2 of the 1065 K1 within the 1040 program.....will they accomplish what you want?

1 reply

dkh
dkhAnswer
Level 15
April 20, 2023

There are several check boxes for line 1 and line 2 of the 1065 K1 within the 1040 program.....will they accomplish what you want?

KMACKAuthor
Level 4
April 21, 2023

Yes.  I think that will work.  Thank you.

dkh
Level 15
April 21, 2023

You're welcome