pjackman58
Level 1
09-29-2020
12:35 PM
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I have a partnership K-1 for a trust with qualified non-recourse financing that would provide basis for the net rental loss (I think), but don't know where to enter that information in Pro Connect.
Thanks
Thanks
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sjrcpa
Level 15
09-29-2020
12:45 PM
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I don't think you'll find a place. Big sister Lacerte doesn't have one. Pass throughs to pass throughs are a weak spot in Lacerte.
The more I know the more I don’t know.
George4Tacks
Level 15
09-29-2020
02:10 PM
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ProConnect Tax has even less areas to enter this than Lacerte does. The "help" articles are not much help https://proconnect.intuit.com/community/schedule-k-1/help/basis-limitation-frequently-asked-question... and https://proconnect.intuit.com/community/schedule-k-1/help/basis-limitations-for-k-1-losses/00/5162 do nothing to aid in the how to.
Bottom line, keep some notes and maybe a spread sheet on the side and "make it work".
Answers are easy. Questions are hard!
