mircpa Posted May 21, 2015 Report Share Posted May 21, 2015 HelloHave a question regarding a client who own 6 rental properties under an S corporation. Has cumulative rental losses on these six properties totaling approx 194K. Do I have to make 6 different K1 entries onto 1040 so that losses flow appropriately to 8582 as suspended and recapture at time of sales. BUT since these properties are titled under S corporation I am wondering whether is this right approach. Can someone confirm methanks Quote Link to comment Share on other sites More sharing options...
BHoffman Posted May 21, 2015 Report Share Posted May 21, 2015 I don't think you can separate them. See 8582 form instructions page 5 here: http://www.irs.gov/pub/irs-pdf/i8582.pdfIn the right hand column: "A partner or shareholder may not treat as separate activities those activities grouped together by the partnership or corporation." 4 Quote Link to comment Share on other sites More sharing options...
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