I'm specifically looking for where to enter the nonpassive income and loss, on page 2 of schedule E, line 28, box (h) Nonpassive loss from Schedule K-1. I attached a screen shot of the form with the box outlined in red. I don't know where to input that information and when I go to check return, that area doesn't have a blue box that I can double click to take me there.
Any help would be very much appreciated.
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Whether the income from an s-corp is passive or not passive is controlled by the check box on part II of the S-corp info labeled "Not a passive activity".
Whether the income from an s-corp is passive or not passive is controlled by the check box on part II of the S-corp info labeled "Not a passive activity".
You likely need to create a second S-Corp entry to create the nonpassive income.
PTO is very similar to Lacerte https://accountants-community.intuit.com/questions/185071-passive-loss-in-a-non-passive-partnership-...
If I check material participation, it lists the loss as non passive .....but then offsets the loss with the passive gains. I thought passive gains cannot be used to offset the nonpassive loss.
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