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M
michele
Level 6
December 7, 2019
Solved

Partnership rental losses not showing on 1040

  • December 7, 2019
  • 1 reply
  • 25 views

Have rental partnership losses not showing on 1040. They have basis to take the losses. Is there something I am not marking. I did not want to mark that it was not a passive activity. Yes their income will allow for a loss so that is not a problem. I have entered their basis.This is a new client and was wondering if I missed marking something.


thanks

Michele

This topic has been closed for replies.
Best answer by sjrcpa

Passive losses are not allowed unless there is an equal or greater amount of passive income. Look at the Form 8582.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
December 7, 2019

Passive losses are not allowed unless there is an equal or greater amount of passive income. Look at the Form 8582.

The more I know the more I don’t know.
sjrcpa
sjrcpa
Level 15
December 7, 2019
The $25,000 exception for rental real estate with active participation probably does not apply to rental income flowing from a partnership.
The more I know the more I don’t know.
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