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jgaring43
New Member

On sched. K-1, how do I find if there is passive activity loss?

 
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TerryA
Intuit Alumni

On sched. K-1, how do I find if there is passive activity loss?

Well, for example, on a partnership K-1 a loss on line 2 (Net rental real estate..) or line 3 is passive. Or even line 1 if you didn't materially participate.

For the real scoop look at Form 8582, Passive Activity Loss Limitations, and it's worksheets.

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1 Reply
TerryA
Intuit Alumni

On sched. K-1, how do I find if there is passive activity loss?

Well, for example, on a partnership K-1 a loss on line 2 (Net rental real estate..) or line 3 is passive. Or even line 1 if you didn't materially participate.

For the real scoop look at Form 8582, Passive Activity Loss Limitations, and it's worksheets.

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