K-1 Rental Loss, 1065

Forum|Forum|1 year ago
September 18, 2024
2 replies
18 views

I received a K-1 from LLC (1065) in line 2 as rental loss, I fulfilled all the requirements as a real estate professional I mean I spent 750 hours and more than half of the time I spent. When I entered my K-1 in Turbo Tax software it allowed my all loss as a nonpassive loss but when I entered my K-1 in Pro series software did not allow loss, The total loss showed suspended and appeared in form 8582 as an unallowed loss,

The only way is if I enter the loss in line # 1 as ordinary business income /Loss then all the numbers transfer as nonpassive loss.

Individual

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qbteachmt

Level 15

You seem to be lost on the internet.

You’ve come to a Peer User community for Intuit Income Tax Preparation products supporting tax preparation professionals using ProSeries, Proconnect and Lacerte Tax Preparation programs, and you may be looking for support as an individual taxpayer using TurboTax. Please visit the TurboTax Help site for support.

And try this screen, for the various topics (subforums): https://ttlc.intuit.com/community/discussions/discussion/03/302

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Thanks.

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