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March 25, 2024
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I cannot get K-1 rental real estate which I actively participated in (qualifies as trade business) to show up on line 4b of 8960 -- therefore excluded from NII tax?

  • March 25, 2024
  • 1 reply
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I filled out the forms in Turbotax the same as last year and this rental real estate showed up on line 4b (form 8960), therefore excluded it from NII tax --- is there a box i missing to check this year??
Best answer by ThomasM125

You have to indicate that the property is rented to a business that you materially participate in. You do that on the screens in TurboTax that mention Special Handling of Rental Activities and also Rents from a Trade or Business:

1 reply

March 25, 2024

You have to indicate that the property is rented to a business that you materially participate in. You do that on the screens in TurboTax that mention Special Handling of Rental Activities and also Rents from a Trade or Business:

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jaybeamAuthor
March 25, 2024

Thank you, that worked!!! greatly appreciated!