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T
thomas-jaykangcp
Level 2
May 21, 2022
Question

Partnership rental income reporting

  • May 21, 2022
  • 1 reply
  • 12 views

I am new to Proseries.  Last year with Prosystem FX, I had option to treat the rental income as a business and report the rental loss on Schedule K-1 line 1 as Ordinary Business Loss, rather than line 2 Rental loss. 

Is there a way to report the rental loss on Line 1 of K-1 with Proseries?

This topic has been closed for replies.

1 reply

T
TaxGuyBill
Level 15
May 21, 2022

Are "services" provided to the tenants?

If not, why do you think it should be an "ordinary" loss and be in Box 1?

abctax55
abctax55
Level 15
May 21, 2022

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