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Aztaxman1
Level 2
yesterday
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How do I code the Schedule E input screen to generate an 8995?
3 Comments 3
abctax55
Level 15
yesterday
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You have to indicate that the rental is a 'trade or business'. IF that's truly the case, it's a 'facts & circumstances' situation.
Lacerte (PTO's big sister...) has an area to 'check the box' for this, at the bottom of the Rental Income/Exp input screen.
HumanKind... Be Both
Aztaxman1
Level 2
yesterday
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Thanks...
I went back and coded for Trade and Business however, only two of the rentals (one a P/S and the other an S-Corp) appeared on the 8995. None of the individual rentals (8 rentals) appeared.
abctax55
Level 15
yesterday
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Again, they have to be marked as T/B.
Lacerte has a spot for that, towards the bottom of the input.
I'm sure PTO does also.
But, I don't use PTO.
HumanKind... Be Both
