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i have a trust with rental real estate losses from several partnerships. the trust beneficiary is a real estate professional and i want the losses to pass through on the k-1 in accordance with the Aragona Trust decision. how do i force lacerte to not limit the losses. i have put in the 1's for not a passive activity, actively participated, real estate professional, amount at risk.
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You want a different presentation on the K-1 from the trust?
Aragona dealt with activities of the Trustees; not the beneficiary.
The more I know the more I don’t know.
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trustee is beneficiary
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It also dealt with taxes owed on the trust's 1041, and had nothing to do with the 1040 taxes of the trustee or beneficiaries. From what I can figure out, the trust had loads of investment income, and wanted to offset it with rental losses.
