DavidS127
Expert Alumni

Get your taxes done using TurboTax

The 2019 version of the PDF shared by Community Champ tagteam (earlier in this thread) continues to report (on pages 6 and 9 of the PDF at this link) that TurboTax does not support reporting self-charged interest income or expense related to a passive activity as either passive activity gross income or passive activity deduction.  The PDF directs users to consult the instructions for Schedule K-1.

 

These links may help provide insight into how you can report the recharacterization using the Forms mode of TurboTax Download/CD version:

 

https://www.irs.gov/instructions/i8582#idm140476817015344

 

https://www.irs.gov/instructions/i1120ssk#idm139641013685664

 

https://www.irs.gov/instructions/i1065sk1#idm139898006934128

 

https://www.irs.gov/publications/p925#en_US_2019_publink1000104596

 

https://www.thetaxadviser.com/issues/2010/dec/casestudy-dec2010.html

 

 

 

 

 

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