Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

How do I enter passive and nonpassive income from a S-corp Schedule K-1?

SteeleCo
Level 1
Entering Individual Passive & Nonpassive Income From an S-Corp Schedule K-1


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.

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
TaxMonkey
Level 8

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".

View solution in original post

3 Comments 3
TaxMonkey
Level 8

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".

George4Tacks
Level 15

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-...


Answers are easy. Questions are hard!
kathycpa
Level 1

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.

0 Cheers