HELP, limit sch e loss, knocks out eic, 8582 issue

[WITAXLADY]

ok, so client sells rental at huge loss - should create NOL

Other rentals - now the loss is limited and shows a gain of $4,000 income which then knocks him out of EIC - Earned income of W-2 and Sch c of $10,000 and 6! yes 6 children.

So what is wrong with 4797? , that looks correct - flows thru -29,000

8582?

Sch E income of $34,561

Expense of $37,792

should show loss of $3,231 and instead shows gain on 1040 of income of $4,674

and as I put more expenses in for my fee, management fee etc, the income goes up, not a greater loss.

I do not understand.

Please help!

Thx d

[Guest Taxed]

Have you checked the input screens for Active management instead of passive ativity?

[Lloyd Hudson]

No time for anlysis but first things I think of is AMT and recapture of deprciation. Or there is a pg 2 sched E offsetting. or program is screwweed up.

[WITAXLADY]

YES, ACTIVE CHECKED

if I do 6198 I can get it to work but not when I check it for all properties - I am going to print the sch E and 6198 and compare to see which ones It is allowing the losses and which not - no time for this

no AMT, checked that, no pg 2

thx

[WITAXLADY]

figured it out - it's line 11 on Sch e - pretty obvious - duh!