hardshell
Level 1
05-20-2021
01:55 PM
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I have a delima. three partners, two non-passive and one is passive.
Does the property box on Rental Real Estate (Screen 17) need to be checked as passive or nonpassive. Can you fix it so that two have nonpassive status while the third partner shows it as passive?
Labels
Level 11
05-20-2021
02:07 PM
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That notation isn't asking whether the partners actively participate; it's asking whether the activity itself would generally be considered passive (like an apartment building) or active (rental of bare land or an average rental period <7 days, or significant services provided.
hardshell
Level 1
05-20-2021
02:55 PM
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Thanks