Schedule E Loss doen't flow

6 replies
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On Schedule E Line 21 a loss is shown. It doesn't require form 6198.

Line 25 does not reflect the loss.

How do I correct that without an override?

The Schedule E is flowing to a 1041 (simple trust)

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Just-Lisa-Now-

Intuit Community Champion

Does it show up on the 8582?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

P

PeteY48Author

Level 2

Yes it does show up in the 8582. In Part V Column b it shows as a positive number. However when the number is transferred to Part I line 2b it shows as a negative number. The statement at line 3 says only positive numbers can be a loss. I'm confused.

T

TaxGuyBill

@PeteY48 wrote:

Yes it does show up in the 8582. In Part V Column b it shows as a positive number.

However when the number is transferred to Part I line 2b it shows as a negative number.

The statement at line 3 says only positive numbers can be a loss. I'm confused.

It looks like you have a Passive Loss. Passive losses can only be used against Passive Income, unless an exception applies. So it seems correct, unless you think one of the exceptions apply. Do you think an exception applies, and if so, what exception?

Line 2b? So there is NOT "Active Participation"?

I'm not sure what statement or line 3 you are referring to.

EDIT: Oh, I see now you said Simple Trust on a 1041. Hmmm, I would need to think if that changes anything.

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