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1041 land rent
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Deters Tax
Level 1
02-12-2022
11:13 AM
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I have some land rent on a 1041 return with the profits flowing to box 5, portfolio income, on the K-1. It should flow to box 7, net rental real estate income.
I tried a few other types of rentals, like single-family home, and no matter what I try nothing from the Sch E is flowing to box 7.
Am I missing something here?
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1 Comment 1
sjrcpa
Level 15
02-12-2022
12:53 PM
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Yes. Land is deemed to be held for investment.
The more I know, the more I don't know.
