ssellstrom
Level 1
04-11-2021
11:30 AM
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Califoria S Corp is ACTIVE, not passive, but LaCerte treats as PAL. Screen 20.2 checks boxes "not a passive activity" and "Real Estate Professional", but the loss still appears on the Form 3801 Worksheets.
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Level 11
04-12-2021
09:12 AM
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California doesn't conform to Real Estate Professional treatment. See the Form 3801 instructions.
ssellstrom
Level 1
01-06-2022
12:22 PM
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Still, the S Corp is in the active trade or business of property management and should not be treated as a PAL.