Schedule E, line 43

Discussion in 'Tax' started by Pico Rico, Jan 24, 2013.

  1. Pico Rico

    Pico Rico Guest

    I don't get it. Schedule E, part II could include real estate rental income
    of a R.E. professional. Does that total go on line 43, also? Or are they
    talking about such income that would be somewhere else on the 1040 (i.e.
    other than 1040 line 17). what is the purpose of line 43?
     
    Pico Rico, Jan 24, 2013
    #1
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  2. See, I would have just meandered along and thrown a RE Professional's
    rental income on a schedule C, but then where's the fun of deciphering
    a schedule E?
     
    Arthur Kamlet, Jan 24, 2013
    #2
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  3. Pico Rico

    Pico Rico Guest


    I don't think putting this type of rental income on a schedule C would be
    appropriate.
     
    Pico Rico, Jan 24, 2013
    #3
  4. Pico Rico

    Alan Guest

    Assuming you have made the determination that this is a rental activity
    and properly belongs on Schedule E, Line 43 tells the IRS that you have
    met the definition of being a real estate professional with active
    participation. This makes this rental activity "Active" rather than
    "Passive". As such, your losses would not be limited by the passive
    activity rules and you would not have to complete Form 8582 if you were
    showing a loss.
     
    Alan, Jan 24, 2013
    #4
  5. Pico Rico

    apdcpas

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    WOULD THIS NONPASSIVE LOSS OF A REAL ESTATE PROFESSIONAL REDUCE OTHER INCOME SUBJECT TO SELF EMPLOYMENT TAX ??
     
    apdcpas, Jun 22, 2018
    #5
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