Enhancement request: Global Setting for 461 Treatment of Rental and 4797 Losses.

[strandboyce]

Lacerte currently does not classify rental losses and Form 4797 losses as trade or business losses for purposes of IRC 461. As a result, users must manually override this by checking the box to indicate these losses are subject to 461. It would be beneficial if Lacerte included an option in its settings to globally apply 461 treatment to rental and 4797 losses for all clients where applicable. This feature would enhance efficiency and reduce the need for manual overrides, particularly for firms handling multiple clients with these types of losses.

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