PatriciaV
Employee Tax Expert

Business & farm

Does the K-1 report income for Box 1? If not, you won't see the "material participation" question. Further, you must check "no" for active participation in order to see the "oil & gas property" question. Answering "Yes" to either the material participation question or the follow-up "oil & gas property" question will avoid the passive activity rules.

 

@vol2Smile 

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