topic How can I change passive income to non passive for trust previous help said to follow the prompts after rental and I entered no but still shows as passive on k1 letter I in Investors & landlords

How can I change passive income to non passive for trust previous help said to follow the prompts after rental and I entered no but still shows as passive on k1 letter I

bstedman5 — Thu, 11 Jul 2019 20:45:33 GMT

Re: How can I change passive income to non passive for trust previous help said to follow the prompts after rental and I entered no but still shows as passive on k1 letter I

Critter — Thu, 11 Jul 2019 21:13:39 GMT

What form are you filling in ? The 1040 or the trust 1041?

Re: How can I change passive income to non passive for trust previous help said to follow the prompts after rental and I entered no but still shows as passive on k1 letter I

bstedman5 — Fri, 12 Jul 2019 00:30:21 GMT

I am filing a 1041 but need to have income as not passive and show as letter d on the K1 not the letter I for passive

Re: How can I change passive income to non passive for trust previous help said to follow the prompts after rental and I entered no but still shows as passive on k1 letter I

Critter — Fri, 12 Jul 2019 02:30:11 GMT

Income from a trust is usually passive since the trust cannot work and earn wages ... so changing it to non passive is not an option especially since rental income is always passive. You probably should talk to a local tax professional to get educated in these matters and to get the 1041 filed correctly.