A_tax_preparer
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 2
		
	
				
		
	
		
			
    
	
		
		
		05-20-2025
	
		
		01:40 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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The client has an interest in a PTP that reports income and losses from three lower-tier PTPs. As I understand, losses from the K-1 should be subject to one basis limit but three separate passive activity limits for the three activities. I've looked all through the K-1 screen in Lacerte, and I cannot find a way to enter this so the software applies the limits correctly. Any and all help is appreciated.
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			Level 11
		
	
				
		
	
		
			
    
	
		
		
		05-20-2025
	
		
		01:48 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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Set up a separate K-1 entry for each PTP. Use the Other Increases to Basis and Other Decreases to Basis fields to move basis around.
			
		
			
	
	
			
				
		
		
			A_tax_preparer
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 2
		
	
				
		
	
		
			
    
	
		
		
		05-29-2025
	
		
		08:46 AM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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Thanks for the help!