Discussion:Question about aggregation and separation of rental property...
From TaxAlmanac, A Free Online Resource
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> Question about aggregation and separation of rental property...
AugustaCPA (talk|edits) said: | 29 June 2007 |
| as it relates to transferring into a partnership. For example, if I was keeping properies separate on invidual returns and then transferred to a partnership, do I keep loss carryfoward separate or do I combine? | |
| June 29, 2007 | |
| Keep the loss c/f on the individual returns. Report the properties as separate pass-thru items on the 1040 going forward and continue to associate the loss c/f with these separate properties.
I use Lacerte, so I would input the profit/loss of each property in it's own K-1 input screen, as if I was receiving multiple K-1's. And I would transfer the Sch E loss c/f for each property into each of these K-1 input screens. | |
To join in on this discussion, you must first
log in.
