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This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual

Enter a prior-year loss on a passive activity

Use an activity code to enter a passive activity loss carryover from a prior year.
  • Business:
     Select the
    C-3
     screen in the
    Business
     folder. Enter the suspended loss in the
    Passive Activity and Other Information
     section.
  • Rent & Royalty:
     Select the
    Rent-2
     screen in the
    Rental
     folder. Enter the suspended loss in the
    Passive Activity and Other Information
     section.
  • Farm:
     Select the
    F-3
     screen in the
    Farm
     folder. Enter the suspended loss in the
    Passive Activity and Other Information
     section.
  • Farm Rental:
     Select the
    4835-2
     screen in the
    FarmRent
     folder. Enter the suspended loss in the
    Passive Activity and Other Information
     section.
  • K1 from a 1065 or 1120S:
     Select the
    K1-7
     screen in the
    K1 1065, 1120S
     folder. Enter the suspended loss in the
    Passive Activity Info and Carryovers, Sec 179 Carryover
     section.
  • K1 from a 1041:
     Select the
    K1T-2
     screen in the K1
    E/T
     folder. Enter the suspended loss in the
    Passive Activity and Other Information
     section.
note
The
Passive activity code
 field determines where you report the loss on Form 8582. For example, activities coded
2=Rental real estate with active participation
 are reported on Form 8582 line 1c.

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