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Sch K-1 Wks - Partnerships

Smart check is asking for allowed passive credits.  If all of the data from the K-1 has been input shouldn't it calculate the items for a, b, c that are being asked for?  Screen shots are below.

Sch K-1 Wks- Partnerships (Alliancebernstein Holdings) Passive1.JPGSch K-1 Wks- Partnerships (Alliancebernstein Holdings) Passive2.JPG

 

 
 

 

 

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1 Reply
jtax
Level 10

Sch K-1 Wks - Partnerships

There is something going on here that is complicated and may not apply to you. TT can't figure it out and you so you have to figure it out and tell TT. 

 

If you look at IRS form 3800 line 3 instructions  https://www.irs.gov/instructions/i3800#idm139898006863728 it references two other forms 8582-CR and 8810. There appears to be a credit that some taxpayers can get for passive activities. Some the losses may not be "allowed" in those forms. That's what TT is asking. I.e. it wants the number on form 3800 line 3, that you must manually do yourself because TT does not support those forms. https://turbotax.intuit.com/personal-taxes/irs-forms/

 

Since the numbers of your passive losses are so small (at least from the screen shot you provided) perhaps should just put down either $0 or $5. That isn't right, but with numbers that small it probably isn't worth your time to figure it out.

 

Perhaps someone else in this volunteer forum knows more about it and can give you better guidance.

 

 

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