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Investors & landlords
Thank you....I did submit a question to the community titled "Form 8582 Part V" but no one replied. My question/concern is that I have a K-1 with an entry on line 10 for a capital gain. This is treated as a capital gain as it flowed on to Schedule D. But it also went in to Form 8582 as net income on line 2a of part I causing line 3 to be positive which in turn causes all my other K-1 passive losses that are Unallowed to now be Allowed passive losses. I don't think this is correct and will cause a huge red flag with the IRS. I don't think the capital gain should go into form 8582 to affect passive losses since the capital gain is not passive. Is this a bug with Turbotax?
March 31, 2023
11:16 AM