PhoebeRoberts
Level 11
Level 11

Personally, I've never prepared an entity return where I took the position that there was passive capital gain other than on the sale of rental real estate. But I can reasonably rely on the footnotes of the K-1 someone else prepared, and that's good enough for me!

I'm not gonna prepare a hypothetical Form 8582 using nothing but words in a chat box. That's what Form 8582 is for!