stendec
Level 1
‎12-07-2019 09:05 AM

k1 passive loss of -9000,  sec 1231 gain.  Turbo tax allowed the Loss,  Lacerte sent loss to  "Disallowed Loss on 8582.  which is correct ?

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abctax55
Level 15
‎12-07-2019 09:05 AM

There are two lines on Screen 20.x for entering gains & losses.  DID you use the one that says "passive"?  Which is what Susan asked 17 hours ago...

"It showed on Sch D"  is not an answer to where you entered it.

HumanKind... Be Both

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stendec
Level 1
‎12-07-2019 09:05 AM
This is the Answer ! and I appreciate your input .  I did NOT  enter this as Passive.   My error.  Lacerte got a copy of this return, and looked at it,  they did not suggest that Correct Answer
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abctax55
Level 15
‎12-07-2019 09:05 AM
YVW
I learned this one the hard way, years ago.
HumanKind... Be Both
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sjrcpa
Level 15
‎12-07-2019 09:05 AM
Glad you figured it out.

The more I know the more I don’t know.
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stendec
Level 1
‎12-07-2019 09:05 AM
thanks So Very Much,  SJR and ABCTAX,  I guess I am quite surprised Lacerte support did not see this, as I sent them a copy of the return.  she spent  15 minutes on this.  By god, I am still in the process of memorizing  the  50,000 pages of THE CODE.  when I get there, I won't be making any more errors. Truly, I learn something new out here every week. Really appreciate you
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sjrcpa
Level 15
‎12-07-2019 09:05 AM
You're welcome.

The more I know the more I don’t know.
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sjrcpa
Level 15
‎12-07-2019 09:05 AM
Don't try to memorize the Code. It changes.

The more I know the more I don’t know.
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stendec
Level 1
‎12-07-2019 09:05 AM
thanks, SJR,   I had no idea.  instead I will memorize the logarithm tables. , base 10. this will be easier than THE CODE
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poolcleaner
Level 9
‎12-07-2019 09:05 AM
But logarithm tables are more fun!
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George4Tacks
Level 15
‎12-07-2019 09:05 AM
Do you know why the adders (you know, the snakes) were not able to multiply?


They didn't know logarithms.

Answers are easy. Questions are hard!
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poolcleaner
Level 9
‎12-07-2019 09:05 AM
:laughing::laughing:
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sjrcpa
Level 15
‎12-07-2019 09:05 AM

Turdo tax. If the 1231 gain is passive, the passive loss can be used. How did you enter the 1231 gainin Lacerte?


The more I know the more I don’t know.
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stendec
Level 1
‎12-07-2019 09:05 AM
I had to log in.  I don't know if you saw my reply or not.  the 1231 gain is shown on Sch D. Lacerte said, of course, that Lacerte is correct, and T Tax is wrong.  who knows?
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George4Tacks
Level 15
‎12-07-2019 09:05 AM
@stendec You may not have done the entries correctly. sjrcpa asked a question that you did not answer.

Answers are easy. Questions are hard!
sjrcpa
Level 15
‎12-07-2019 09:05 AM
Yes. GIGO.

The more I know the more I don’t know.
abctax55
Level 15
‎12-07-2019 09:05 AM
:+1::+1:
HumanKind... Be Both