Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
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.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Net investment tax
Net investment tax
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
MICHAELMARS
Level 5
08-08-2023
02:21 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I can't seem to get the income from a real estate professional that sold a building excluded from the 8960 calculation.
Return is marked real estate professional and the materially participating check box is checked.
Labels
3 Comments 3
TaxGuyBill
Level 15
08-08-2023
04:45 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If I remember correctly, the material participation for a business exception for 8960 must be manually entered/adjusted on the 8960.
Norman2001
Level 7
08-09-2023
06:53 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
On the Sch E worksheet,
Under "Check All that Apply"
Between the G & I lines
Check the Box for "Trade or Business not subject to net investment income tax"
MICHAELMARS
Level 5
08-09-2023
11:01 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I should have been more specific, this is from a flow in K-1
