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Error in Software on Form 8960?
Hello! I think there is a possible error in the software.
Facts:
* Schedule C income + Rental income #1 + Rental loss #2
* Rental income #1 and rental loss #2 are from short term rentals with material participation (nonpassive income)
Issue:
All three of these are going net to NIIT line 4a. However, for line 4b only Schedule C income and rental income #1 are flowing through. The loss is not going through from rental #2 (i.e. it is not netting with Schedule C and rental income #1).
I made rental loss #2 income and it does flow through then. Why is the program not netting the loss on 4b? I read the IRS publication and it seems like it should flow through as well...
Topics:
‎February 20, 2024
9:40 AM