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M
MICHAELMARS
Level 6
August 8, 2023
Question

Net investment tax

  • August 8, 2023
  • 2 replies
  • 20 views

I can't seem to get the income from a real estate professional that sold a building excluded from the 8960 calculation.  

Return is marked real estate professional and the materially participating check box is checked.

This topic has been closed for replies.

2 replies

T
TaxGuyBill
Level 15
August 8, 2023

If I remember correctly, the material participation for a business exception for 8960 must be manually entered/adjusted on the 8960.

    N
    Norman2001
    Level 6
    August 9, 2023

    On the Sch E worksheet, 

    Under "Check All that Apply"

    Between the G & I lines

    Check the Box for "Trade or Business not subject to net investment income tax"

      M
      MICHAELMARSAuthor
      Level 6
      August 9, 2023

      I should have been more specific, this is from a flow in K-1

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