Rental Allocation Form for 280(A)

Forum|Forum|6 years ago
June 15, 2020
4 replies
16 views

Anyone with ProSeries Professional know how to access a rental allocation form to show gross, personal exclusion, loss limitation and net amounts from a residential rental property with personal days?

ProSeries Professional

This topic has been closed for replies.

Best answer by itonewbie

The code section is §280A, not 280(A).

If you have made the input under Schedule E > Schedule E Worksheet for data entry for Days rented at fair market value and Days of personal use, the allocation will be done automatically. You should also review whether Lines R and S may be applicable to your client.

The allocation and limitation will be computed and shown on the same input screen. If you want a printed copy of the worksheet, it will be printed with the Preparer Copy or you can choose to print just the worksheet by selecting Print Selected Forms with Schedule E Wks.

itonewbieAnswer

Level 15

The code section is §280A, not 280(A).

If you have made the input under Schedule E > Schedule E Worksheet for data entry for Days rented at fair market value and Days of personal use, the allocation will be done automatically. You should also review whether Lines R and S may be applicable to your client.

The allocation and limitation will be computed and shown on the same input screen. If you want a printed copy of the worksheet, it will be printed with the Preparer Copy or you can choose to print just the worksheet by selecting Print Selected Forms with Schedule E Wks.

---------------------------------------------------------------------------------Still an AllStar