In a 1065 return, we sold a rental real estate property, giving short term cap loss. The loss is flowing from the 4797 part 2 to the 8825 line 19. Is this right?

Forum|Forum|5 years ago
April 6, 2021
6 replies
21 views

On the K1, the loss will become part of the real estate income/loss in box 2. It does not show in box 10, section 1231 gain/loss. We are being told this is wrong.

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abctax55

Level 15

"...We are being told this is wrong."

Being told by ???? that it is wrong?

HumanKind... Be Both

A

ablantonazAuthor

Level 2

We are being told it is wrong by a CPA

qbteachmt

Level 15

"It does not show in box 10, section 1231 gain/loss. We are being told this is wrong."

Did you do your own research?

Such as this article:

https://www.investopedia.com/terms/s/section-1231.asp

Don't yell at us; we're volunteers

A

ablantonazAuthor

Level 2

Yes. I've seen this article. Thank you. 😊

qbteachmt

Level 15

"Yes. I've seen this article."

Then the question remains: Do You think it is wrong? You're the professional tax preparer.

Did you read what the IRS tells you:

https://www.irs.gov/publications/p544#en_US_2020_publink100072478

Don't yell at us; we're volunteers

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