Common questions about Corporate Rental Activities in ProConnect Tax

Common questions regarding rentals and other passive activities

Enter a former passive activity

1. Go to Input Return ⮕ Income ⮕ Rental/Other Passive Activities
2. If there are prior year un-allowed passive losses entered, and you select either Not a Passive Activity or Real Property Trade or Business Exemption checkbox. The program assumes the activity is a former passive activity.

Free suspended passive loss

1. Go to Input Return ⮕ Income ⮕ Rental/Other Passive Activities
2. Enter 2 in 1 = Delete This Year, 2 = Delete Next Year to indicate that this activity has been disposed of this year and to release all suspended passive losses