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TurboTax Business 2024

Trust that rents out land for farming.  Tax return was done by professional tax prep since 2021 and decided to try to do it myself with TurboTax Business.  TurboTax is treating the income on the K1 as line 5 verses the tax professional had it on line 7 (Net Rental Real Estate Income).  I've followed the 1041, Schedule E from the prior years and it still comes up as non-passive income verses passive income.  Not sure what I am missing.

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1 Reply
M-MTax
Level 11

TurboTax Business 2024

With respect to the rental of land, losses are passive and profits are nonpassive.

 

If the software is not handling the rental in that manner, call customer service.

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