Does Lacerte track accumulated losses of individual properties anywhere from the Form 8825? Client with multiple properties reported on 8825 will be selling one property this year. Need to know what the losses were generated by each property instead of grand total. Is it tracked anywhere, or do I have to go back to all the old returns and enter them on a spreadsheet?
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"Form 8825 is in an S-Corp return".
Actually it is also in a partnership return.
And both those entities pass out the losses to the shareholders/partners where the "suspended" issues come into play.
HAVE the properties been listed separately on the S - Corp return?
"Form 8825 is in an S-Corp return".
Actually it is also in a partnership return.
And both those entities pass out the losses to the shareholders/partners where the "suspended" issues come into play.
HAVE the properties been listed separately on the S - Corp return?
Look at Screen 18 > Prior Year Unallowed Passive Losses
Unclear why you are asking this. Passive losses are not suspended at the S-corp level, and passive losses are suspended at the individual level as s-corp losses, selling a property in the corp will not free individual property losses on the individuals return, merely the gain from the sale will be passive income offset against the suspended losses.
So to answer your question directly - no Lacerte would not track the separate property losses - the are aggregated and reported to the shareholder on his K-1.
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