Same topic. I have a rental in a Trust and using 1041. I'm assuming Net income pertains to Rent Received on the Schedule E (line 3) and net loss (Schedule E, line 21 to use Form 6198) both carry to Part V on 8582? (The net loss is due to depreciation due to FMV calculation at date of death).
Then, Part VII, I use the same net loss used in Part V column b (or Schedule E, line 21) with ratio at 1.00 (it's the only one). However, you are saying column c (Unallowed loss) is for prior years...correct? I had no prior years loss for this, but was confused if I multiplied Loss X Ratio or if that was for prior years.
Another question...on 8582, I have a loss in 2a with the rental. I understand 1a-1c are real estate pros, so that doesn't apply and Line 2d is a loss and 1d is zero, so I skip Part II. So, Part III line 10 is income from 2a and lines 9 (N/A or zero) and line 10 are added (line 2a amount or net income from rental). So, I'm assuming this is not considered a loss (since it's positive)...I don't quite understand the calculation...explain please. Then, that amount is transferred to Schedule E Line 22, correct?
Thank you.
