How do I group S Corp K-1 & Sched E Disregarded entity in Pro Series. The S Corp rents exclusively the commercial building owned by Disregarded entity. Regulation 1-469-4 says we can group them together even though they are reported separately on K-1 and schedule E.
Would appreciate feedback. Have reached out to Pro Series with no luck.
I have the election statement made and ready to do.My question is how do I do the actual grouping within the Proseries software. I was told I pick a common group name and link the Schedule E & K-1. Not sure how to do this or if this is really how it is done..
The only thing that the grouping does is potentially make the Schedule E rental non-passive. On the Schedule E worksheet, just check the "other passive exceptions" box.
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.
