sl19
Level 2
07-23-2020
05:45 PM
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Thank you for replies.
I am reading Section 469 and it sounds like you can group your Active business Income on Schedule C with your Self-Rental on Schedule E if both are 100% owned by you and constitute an "appropriate economic unit." So if Grouped, the losses on the Self-rental will be netted with Active Income. They are in separate LLC's, but sounds like they can be grouped.
Is this not accurate? And doesn't seem like the Grouping feature in ProConnect can make this happen?