Don Priebe wrote:

- quote -

Speaking only about Taxwise now.

If you're filing the return electronically it don't really
matter.

But if filing paper return and you wish to include the
schdule e page 2, and if TW doesn't automaticaly print it
with the return, then while on that page, right click the
mouse, and from the drop down menu click on "print this
form". Presto!

Cheer$$$,
Harlan Lunsford, EA n LA

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Don Priebe wrote:

- quote -

Lacerte also handles it this way.

Phoebe

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Don Priebe <priebe[at]iname.com> wrote:

- quote -

If there is "nothing" to report, there is probably no
"correct" way to do it. <g> Personally, I would prefer to
see the K-1s listed on the Schedule E (and related forms
where necessary) simply to reflect the fact that the issues
have been considered. In the past, I have occasionally
reported a buck's worth on income somewhere on the K-1
simply to "force" its inclusion on the return. But, in light
of K-1 matching initiatives, I would think twice before
doing that in the future.

Also, I will occasionally "force" print forms that are
suppressed by the software if I think inclusion in the
return will minimize future hassles or inquiries.

A related, and perhaps more important issue, is whether the
software package properly carries forward necessary
information to the following year. But, I guess you won't
know the answer to that one until...next year. <g
MTW

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Client has several limited partnerships, all showing losses
this year, all with unallowed passive losses from previous
years. Normally I would fill out the second page of Schedule
E with the names and EIN of the partnerships, and the rest
of the form would all be zeros. I would also fill out an
8582 and its worksheets showing the passive loss carryover
details for each LP. (Just like they taught us to do at HRB
many years ago.)

This year I'm trying out new software. One package (TaxAct)
does not list the names and EINs on the Schedule E, does not
print out the (all blank) Schedule E, but does print out the
detailed 8582.

Another package (TaxWise) lists the names and EINs on
Schedule E, but then does not print it out since it has all
zero entries. The 8582 is printed out, but with a single
entry ("1065 K-1s") instead of the details for each LP.

What is the correct way to report these LPs?

--
Don EA in Upstate NY

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