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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Please make sure there is no "1" in Field "1=nonpassive activity" in Section General Information of Screen 18 - Schedule E.
Please make sure there is no "1" in Field "1=nonpassive activity" in Section General Information of Screen 18 - Schedule E.
Ack! That was it! Grr--and I know better! THANK YOU!
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