Form 8825 is used by partnerships and S Corps to report income and deductible expenses from rental real estate activities. The form is also used to report net income or loss from rental real estate activities flowing from partnerships, estates, or trusts reported on a K-1.
To enter the K-1 income/loss on Form 1065 or 1120S, from the Main Menu of the 1065 or 1120S select:
- Schedule K - Distributive Share Items
- Income (Loss)
- Net Income (Loss) from Rental Real Estate (Form 8825)
- Other Categories
- Net Gain/Loss from Rental R/E which Partnership is a partner/beneficiary. Enter the amount of income or loss, then press Enter.
- Select 3-Partnerships, Estates or Trusts which generated this Income (Loss). Press F10, then select New to add the Name and TIN of the Partnership, Estate, or Trust that issued the K-1.
Note: This is a guide to entering into the TaxSlayer Pro program the Net Income (Loss) from Rental Real Estate in which the partner/beneficiary is a partnership or S Corporation. This is not intended as tax advice.