leslie
Level 1
12-06-2019
10:36 PM
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KMB14
Level 3
12-06-2019
10:36 PM
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If the partnership doesn't qualify, why are you clicking the opt-out box?
leslie
Level 1
12-06-2019
10:36 PM
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It was suggested at seminar that you opt out but setup PR in case one partner unknowingly disqualifies it.
sjrcpa
Level 15
12-06-2019
10:36 PM
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If you both opt out and indicate a PR, IRS will be confused. My guess is they will ignore the opt out election.
The more I know the more I don’t know.
The more I know the more I don’t know.
KMB14
Level 3
12-06-2019
10:36 PM
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Odd advice - if you're doing the partnership return, presumably you'd have all the relevant information for the partners, so there wouldn't be any confusion as to whether one of them was a disqualifer or not in terms of the opt-out...but to answer your question - no, I do not think you can force the PR to appear when the opt-out box is checked.