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msindc1
Level 5
May 3, 2021
Solved

Why is Lacerte Treating Foreign Rental Income as Non-1411 Business?

Colleagues:

Client has $5000 in rental income from a property in the UK.  Lacerte is deducting that income from the Net Investment Income tax on Form 8960.  The schedule says "Adjustment for Non-Section 1411 Business".  But I believe that it is Section 1411 business, isn't it?  Anyone know what's going on?

Micah

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PKCPAMSTAnswer
Level 6
May 3, 2021

Please make sure there is no "1" in Field "1=nonpassive activity" in Section General Information of Screen 18 - Schedule E.

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2 replies

PKCPAMSTAnswer
Level 6
May 3, 2021

Please make sure there is no "1" in Field "1=nonpassive activity" in Section General Information of Screen 18 - Schedule E.

    msindc1Author
    Level 5
    May 3, 2021

    Ack!  That was it!  Grr--and I know better!  THANK YOU!

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