Question
FORM 8582 PART IV-I was told by Lacerte support that column (d)/(e) should reflect gains from the sale of real property/boot received on a 1031 exchange.
I disagree with the way Lacerte is calculating Part IV of 8582, specifically, the “overall gain or loss”. These columns are supposed to be a calculation/combination of prior years unallowed losses and the current year income/loss. Ultimately, these numbers should be netted to determine if a taxpayer with active participation is entitled to take a passive loss (subject to limitations) or not. Is anybody else having this issue?
