TOM Posted April 3, 2013 Report Share Posted April 3, 2013 K-1 from a publicly traded partnership (PTP) has ordinary business income of $972 and net section 1231 loss of $25. The software shows income of $972 on page 2 of the schedule E as nonpassive income column J (Nonpassive income from Schedule K-1)and the $25 loss on Form 4797. I thought a PTP was passive. I tried this on Ultra Tax and ATX software with the same results. Anyone know why a PTP changes form Passive to Nonpassive? Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 3, 2013 Report Share Posted April 3, 2013 Did you check the PTP box? Passive box? I think you only check PTP in ATX. Quote Link to comment Share on other sites More sharing options...
TOM Posted April 3, 2013 Author Report Share Posted April 3, 2013 Kristin of ATX found it for me on page 13 of Form 8582, Quote Link to comment Share on other sites More sharing options...
joanmcq Posted April 3, 2013 Report Share Posted April 3, 2013 I saw that! Learn something new..... Quote Link to comment Share on other sites More sharing options...
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