Mid year client rented to child at below FMV rent an existing rental property within the LLC. I cannot find a way on the 8825 to limit this to ensure no loss.
I tried calling a vacation home. I tried showing 366 personal use days (in case needed it all to trigger). Nope - still giving entire rental loss to the LLC and partner K1s. Is there a way to limit to zero within the software automatically?
Do I manually limit - as I then lecture to the client the issues with this new development? 'I can manually stop depreciation. Yet the rest...
Thanks for your thoughts and help. Due Monday of course.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.