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As long as you have a routing Number and Account number I don't think it matters which you choose.I prefer Checking though,
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The Cash amount of $68,000.00 is all they paid and he received. I would question the Deductible amount on the Corp. return.
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Control B works to bring up the Billing Clock once you open a return from within the program.
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Exactly how I would see this unless they qualify as a Real Estate Professional making the income Non-Passive.
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I had the same situation a few years back and did an S-election on the business thus eliminating the Disregarded entity situation of claiming rents to self.
