Most of the other business info questions have explanations. The ones regarding section 465 at risk and section 469 passive activity do not. I'm not sure how to answer these four questions in the interview. I am filing a 1065 that has rental property and also receives K-1s with rental income. I am using Turbo Tax business.
Section 465 refers to the at-risk rules while Section 469 refers to the passive activity loss rules and they have particular relevance in the About Your Business section if you are aggregating your activities to avoid either one or both (which, chances are, you are not).
See https://www.irs.gov/pub/irs-wd/201805013.pdf
Thank you. It seems pretty clear we're not aggregating for either. It also asks if we have more than one activity for section 465 at risk purposes and also for section 469 passive activity purposes. Does this mean more than one rental or other activities that are not rentals for those purposes?
Only if you are aggregating activities.
Otherwise, each activity is separate, stands on its own, and is reported as a separate activity.