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    • Created with Sketch. See what's trending for the upcoming tax season. View Lacerte Hot Topics.
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    S corporation sec 1231 gain

    leesheftel
    Level 1
    ‎10-12-2021 02:19 PM

    Lacerte is classifying a sec. 1231 gain as passive when I did not classify the transaction as passive.  Why is it doing this?

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    1 Comment 1
    PhoebeRoberts
    Level 11
    Level 11
    ‎10-12-2021 02:57 PM

    On the delinquent 1120S, or on the timely 1040? Assuming on the timely 1040, go into your K-1 input and take the amount out of the line called Passive Net Section 1231 Gain and put it on the line called Net Section 1231 Gain.

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