i have a trust with rental real estate losses from several partnerships. the trust beneficiary is a real estate professional and i want the losses to pass through on the k-1 in accordance with the Aragona Trust decision. how do i force lacerte to not limit the losses. i have put in the 1's for not a passive activity, actively participated, real estate professional, amount at risk.
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You want a different presentation on the K-1 from the trust?
Aragona dealt with activities of the Trustees; not the beneficiary.
trustee is beneficiary
It also dealt with taxes owed on the trust's 1041, and had nothing to do with the 1040 taxes of the trustee or beneficiaries. From what I can figure out, the trust had loads of investment income, and wanted to offset it with rental losses.
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