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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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klprofes
Level 1
06-29-2020
12:09 PM
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in part III OF K-1 HAVE AN AMOUNT OF ORDINARY INCOME OF 24,762
IN LINE 2 HAVE RENTAL REAL ESTATE LOSS OF -15,519
WHEN I INPUT BOTHS AMOUNT, THE PROGRAM TELL ME THAT I HAVE TO TAKE ONE OF THE OTHER
WE CALL ED THE PREPARER AND INFORM ME THAT IS THE WAY SHOULD BE DONE. AND THE PROGRAM TELL ME DIFFERENT
COULD YOU PLEASE HELP ME TO RESOLVE THIS MATTER
THANK YOU
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1 Comment 1
Just-Lisa-Now-
Level 15
06-29-2020
12:29 PM
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You need to split it into 2 separate K-1s.
I generally include the Ordinary Income Box and all the other boxes together on one, then just the Rental Real Estate Box on the other.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
