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How To Get K-1 Box 2 Loss To Move From Form 8582 to Schedule E Non-Passive Loss Column Check the REP status first: Go to Wages & Income -> Rental Properties and Royalties. Even though you aren't entering a new property here, you must enter this section to answer the "Is the taxpayer a Real Estate Professional?" question. Ensure this is marked "Yes" for the spouse/the taxpayer. No matter who's name is listed on the Schedule E, it will check the "Yes" on the Federal Information Worksheet Part VI. (If you already have a property listed on a Schedule E, you can answer the question on that non K-1 related Schedule E.) Edit the K-1: Go back to the K-1 entry screen. The Critical Screen: Look for a screen titled "Describe the Partnership" or "Describe the Activity." * You must check the box that says "I materially participated in the operation of this business." * Note: Even though it's a rental, marking "Material Participation" while the REP status is active is the only way to move Box 2 income out of Form 8582. **It also doesn't matter if they were a Limited Partner or General Partner. **A Limited Partner, even though it's rare, can be deemed to materially participate if they meet specific, limited criteria: (1) they work over 500 hours, (2) they materially participated in the activity for any 5 of the past 10 years, or (3) for personal service activities, they participated in 3 prior years.  

Hello all,   I need help with my tax situation.   Parents are US citizen. They gifted me a house in Vietnam in 2024. Since they are citizen. I didn't file the 3520 Form. I sold the house to my relative last year. There weren't any capital gain since the house was left empty for 5 years. Anyway, I sold the house but I didnt get the money and it didnt actually transferred it to US until early of this year. The reason why because they required alot of documents ( like required proof that we paid our taxes, the bank didnt let me open the account and asked alot of docs/proof in order for me to transfer the money out of the country. That is why I left in 2025 and came back this year to sort thing out.   How do I file tax for the selling of this house in Vietnam?   Thanks!

What constitutes a household member for tax filing purposes?  For example, I have an adult living with me until they can get back on their feet, they are currently unemployed.  I am not claiming them on my taxes as a dependent.  Would they be considered a household member? And is a mental disability considered the same as a physical disability?

Because my husband purchased a another work vehicle a few months into the year, I originally typed in that the first vehicle stopped being used as a work vehicle in April. But because then TurboTax thought the vehicle was sold -- which it has not been -- I took that date off and let it be as in use. Both vehicles were used for work during the year. The final review simply has it stuck that the vehicle was sold and want me to put the date sold.