hpostal
Level 3
10-11-2023
04:22 PM
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Where is allocated Schedule E K-1's investment Interest Expense carryover from prior year (2021) input in Proconnect Pass-through K-1's? Unlike allocated passive loss carryforward losses, there is not a provision for the input of 2021 individually allocated disallowed K-1 investment interest carryforward within carryovers for pass-through entities.
In past years, my previous tax software Prosystem Axcess online allocated disallowed investment interest expense to each applicable entity similarly to how passive loss carryovers were allocated.
Proconnect does not appear to offer that option or requirement to allocate "Pari passu" as are passive losses on form 8582.