Common questions about Corporate Rental Activities in Lacerte

Enter a former passive activity

1. Open Screen 18, Rental/Other Passive Activities.
2. In the Property list, select or add the applicable property. (Click the Add button to add a new property)
3. In the Section box, select Rental/Other Passive Activities.
4. If there are prior year unallowed passive losses entered, and you select either Not a Passive Activity or Real Property Trade or Business Exemption check box, the program assumes the activity is a former passive activity.

Free suspended passive losses

1. Open Screen 18, Rental/Other Passive Activities.
2. Enter 2 in 1 = Delete This Year, 2 = Delete Next Year to indicate that this activity is being disposed of this year and to release all suspended passive losses

Related articles:

• Entering Section 179 Carryover in the Corporate Module
• Form 8810: Corporate Passive Activity Loss and Passive Credit Limitations