AnnG
Level 1
08-27-2020
06:43 AM
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My owns several rental properties and meet the requirements for as a Real Estate Professional. In Proseries Professional, I entered all the properties separately on Sch.E and selected Active Participation, Material Participation and Other Passive Exceptions with the understanding that losses from the rental properties would flow through 100% to Form 1040, line 17, but only some of the losses flowed through. Am I using the correct Schedule or should I use a Schedule C?
Your response is certainly appreciated.
Thank you,
Ann
Labels
Level 15
08-27-2020
08:04 AM
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♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
AnnG
Level 1
08-27-2020
08:53 AM
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Thank you very much Lisa. After a careful review of the tax return, I have concluded that Proseries carried the numbers correctly.
lisaj
Level 2
08-27-2020
10:58 AM
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Thanks so much for the help!!!