| Government Form |
|
|||
|---|---|---|---|---|
| Worksheet | Section | Field | ||
| Name | General > Basic Data | General |
First name - Taxpayer Middle initial - Taxpayer Last name - Taxpayer Suffix - Taxpayer |
|
| Social Security Number | General > Basic Data | General | Social security number - Taxpayer | |
|
Part 1 |
||||
| 1a | Income > Sch C - Business | General | Only reporting rental real estate is checked | |
| Income > Sch D / 4797 / 4684 - Gains and Losses | Other Capital Transactions | Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| Income > Sch D / 4797 / 4684 - Gains and Losses | Business Property, Casualties and Thefts | Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| Income > 6252 Installment Sales | General | Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| Sch E, pg 1 - Rent and Royalty | General | Activity code is "blank" and Property code is not "Land", "Royalties" or "Self-rental" | ||
| Sch F / 4835 - Farm | General | Farm rental is checked and Activity code is blank | ||
| Calculated based on entries in: | ||||
|
Income >
|
||||
| IF | ||||
|
Income >
|
Activity |
Class code contains "Active rental real estate" Class code is blank and Property type is "Single family residence", "Multi-family residence" , "Vacation home / short term rental" or "Commercial" |
||
| Income > 8824 - Like-Kind exchanges | General | Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| 1b | Income > Sch C - Business | General | Only reporting rental real estate is checked | |
| Income > Sch D / 4797 / 4684 - Gains and Losses | Other Capital Transactions | Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| Income > Sch D / 4797 / 4684 - Gains and Losses | Business Property, Casualties and Thefts | Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| Income > Sch E, pg 1 - Rent and Royalty | General |
Activity code is blank and Property type is not "Land", "Royalties" or "Self-rental" Activity code is "Materially participating real estate professional" Activity code is "Subject to recharacterization - rental real estate" and activity has an overall loss Activity code is blank, Property type is "Land" or"Royalties" and activity has an overall loss |
||
| Income > Sch F / 4835 - Farm | General | Farm Rental is checked and Activity code is blank or "3" | ||
| Calculated based on entries in | ||||
|
Income >
|
||||
| IF | ||||
|
Income >
|
Activity |
Activity code is blank and Property type is not "Land", "Royalties" or "Self-rental" Activity code is "Materially participating real estate professional" Activity code is "Subject to recharacterization - rental real estate" and activity has an overall loss Activity code is blank, Property type is "Land" or"Royalties" and activity has an overall loss |
||
| Income > 8824 - Like-Kind Exchanges | General | Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| 1c | Income > Sch C - Business | Loss carryover | State loss carryover if different from federal | |
| Income > Sch D / 4797 / 4684 - Gains and Losses | Other Capital Transactions | Suspended loss carryover if Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| Income > Sch D / 4797 / 4684 - Gains and Losses | Business Property , Casualties and Thefts | Suspended loss carryover if Classification code is "Active rental real estate" or "Materially participating real estate professional" | ||
| Income > Sch E pg 1 - Rent and Royalty | Loss Carryovers | State Loss carryover if General Activity Code is "blank", "Materially participating real estate professional" or "Subject to recharacterization - rental real estate | ||
| Income > Sch F / 4835 - Farm | Loss Carryovers | State loss carryover passive if General > Farm Rental is checked and activity code is blank | ||
| Income > Sch E, pg 2 - Fiduciary Passthrough (K-1 1041) | Activity |
Carryovers
If Class code contains "Active rental real estate", "Materially participating real estate professional" or "Subject to recharacterization - rental real estate" |
||
| Income > Sch E, pg 2 - Partnership Passthrough (K-1 1065) | Activity |
Carryovers
If Class code contains "Active rental real estate", "Materially participating real estate professional" or "Subject to recharacterization - rental real estate" |
||
| Income > Sch E, pg 2 - S Corporation Passthrough (K-1 1120S) | Activity |
Carryovers
If Class code contains "Active rental real estate", "Materially participating real estate professional" or "Subject to recharacterization - rental real estate" |
||
| 1d | Calculated | |||
| 2a | Income > Sch E, pg 2 - Fiduciary Passthrough (K-1 1041) | Other income and adjustments | Revitalization deduction - current year deductions | |
| Income > Sch E, pg 2 - Partnership Passthrough (K-1 1065) | Activity (Continued) | Commercial revitalization deduction - current year deductions | ||
| Income > Sch E, pg 2 - S Corporation Passthrough (K-1 1120S) | Activity (Continued) | Commercial revitalization deductions - current year deductions | ||
| 2b | Income > Sch C - Business | Loss carryovers | State if different revitalization deduction carryover or Federal revitalization deduction carryover |
|
| Income > Sch E, pg 1 - Rent and Royalty | Loss carryover |
State if different revitalization deduction carryover or Federal revitalization deduction carryover |
||
| Income > Sch F / 4835 - Farm | Loss carryover | State if different revitalization deduction carryover or Federal revitalization deduction carryover | ||
| Income > Sch E, pg 2 - Fiduciary Passthrough (K-1 1041) | Other income and adjustments | Commercial revitalization deductions - passive activity loss carryover | ||
| Income > Sch E, pg 2 - Partnership Passthrough (K-1 1065) | Activity (continued) | Commercial revitalization deductions - passive activity loss carryover | ||
| Income Sch E, pg 2 - S Corporation Passthrough (K-1 1120S) | Activity (continued) | Commercial revitalization deductions - passive activity loss carryover | ||
| 2c | Calulated | |||
| 3a | Income > Sch C - Business | General | No material participation | |
| Income > Sch D / 4797 / 4684 - Gains and Losses | Other Capital Transactions | Classification code is "Other Passive" | ||
| Income > Sch D / 4797 / 4684 - Gains and Losses | Business Property, Casualties and Thefts | Classification code is "Other Passive" | ||
| Income > 6252 Installment Sales | General | Classification code is "Other Passive" | ||
| Income > Sch E, pg 1 - Rent and Royalty | General | Activity code is "Other Passive" | ||
| Income > Sch F / 4835 - Farm | General | Activity code is "1" | ||
| Calculated based on entries in | ||||
|
||||
| IF | ||||
|
Activity | Classification code contains "Other passive" or blank | ||
| Income > Partnership Passthrough (K-1 1065) | Activity | Cancellation of debt - Amount to include on Form 8582 | ||
| Income > 8824 - Like-Kind Exchanges | General | Classification code is "Other Passive" | ||
| 3b | Income > Sch C - Business | General | No material participation | |
| Income > Sch D / 4797 / 4684 - Gains and Losses | Other Capital Transactions | Classification code is "Other Passive" | ||
| Income > Sch D / 4797 / 4684 - Gains and Losses | Business Property, Casualties and Thefts | Classification code is "Other Passive" | ||
| Income > Sch E, pg 1 - Rent and Royalty | General |
Activity code is "Other Passive" Activity code is "Subject to recharacterization rules - other" and activity has an overall loss |
||
| Income > Sch F / 4835 - Farm | General | Activity code is "1" | ||
| Calculated based on entries in: | ||||
|
Income >
|
||||
| IF | ||||
|
Income >
|
Activity |
Class code is "Other passive" or blank Class code is "Subject to recharacterization rules - other" and activity has an overall loss |
||
| 3c | Income > Sch C - Business | Loss Carryover |
Federal / State if different loss carryover IF General > No material participation is checked |
|
| Income > Sch D / 4797 / 4684 - Gains and Losses | Other capital transactions | Suspended loss carryover if classification code is "Other passive" | ||
| Income > Sch D / 4797 / 4684 - Gains and Losses | Business Property, Casualty and Thefts | Suspended loss carryover if classification code is "Other passive" | ||
| Income > Sch E, pg 1 - Rent and Royalty | Loss Carryover |
Federal / State if different loss carryover IF General > Activity code is "Other passive", "Investment income", "Non-investment income" or "Subject to recharacterization rules - other" |
||
| Income > Sch F / 4835 - Farm | Loss Carryover |
Federal / State if different loss carryover IF General > Activity code is "1" ("Other passive") |
||
| Income > Sch E, pg 2 - Fiduciary Passthrough (K-1 1041) | Activity |
Carryovers
IF General > Activity code is "Nonpassive", "Other passive - default", or "Subject to recharacterization rules - other" |
||
| Income > Sch E, pg 2 - Partnership Passthrough (K-1 1065) | Activity |
Carryovers
IF General > Activity code is "Nonpassive", "Other passive - default", or "Subject to recharacterization rules - other" |
||
| Income > Sch E, pg 2 - S Corporation Passthrough (K-1 1120S) | Activity |
Carryovers
IF General > Activity code is "Nonpassive", "Other passive - default", or "Subject to recharacterization rules - other" |
||
| 3d | Calculated | |||
| 4 | Calculated | |||
| Part II | ||||
| 5 | Calculated | |||
| 6 | Calculated based on filing status | |||
|
$75,000 |
||||
| IF | ||||
| General > Basic Data | General | Filing status is "Married Filing Separately" and "Taxpayer did not live with Spouse" is checked | ||
| 7 | Calculated based on Federal AGI , Series EE and I exclusion and Passive gains and losses on Schedules C, D, E and F and rental real estate professional activities with overall income | |||
| OR | ||||
| Income > 8582 - Passive Activity Loss Limitations | Passive Activity Loss Limitations (Form 8582) - Overrides | Modified adjusted gross income - Override | ||
| 8 | Calculated | |||
| 9 | Calculated | |||
| 10 | Calculated | |||
| Part III | ||||
| 11 through 14 | Calculated | |||
| Part IV | ||||
| 15 and 16 | Calculated | |||
|
Note: Work through worksheets to calculate allowed and disallowed portion per activity |
||||
| Product Support - support.cch.com/axcess Customer Support Knowledge Base - support.cch.com/kb Customer Support Contacts - support.cch.com/contact |