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BNA 50 State Planner and CA Net Rental Activity Losses

Key tips and advice the working tax pro can use.
#1
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857
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26-Feb-2016 10:14pm
Location:
Oakland CA
Moved back to BNA from several years with U/ltaTax Planner because it would not import prior year data accurately from Go Systems.

Am I overlooking something, but it seems that BNA won't let you make a real estate rental activity passive if it's Real Estate pro active for Fed purposes?
 

#2
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857
Joined:
26-Feb-2016 10:14pm
Location:
Oakland CA
BNA tech support confirmed no way to designate a specific state activity status different from Fed status. That's going to be a pita for planning 2021 for all those real estate pros with massive losses from 2020 who file in states like CA that don't respect real estate pro treatment.

CS Planner (formerly Ultratax Planner) tech support says same thing for their planner.
 

#3
sjrcpa  
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23-Apr-2014 5:27pm
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Maryland
Do 2 cases? Use one for federal. Then change from RE professional and use this case for CA.
Glad I don't have this.
 

#4
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857
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Location:
Oakland CA
I'll try but it's probably going to wipe out the activity current year data if I do that.
 

#5
sjrcpa  
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5143
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2 different files then?
Or make a manual adjustment to CA to account for the fed/CA difference?
 

#6
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857
Joined:
26-Feb-2016 10:14pm
Location:
Oakland CA
Your 2 files idea is the way to go. Double the input time and chances of error but it should work. The losses are going to be 2020 and hopefully not 2021. But to avoid manually inputting 2020 actual to fresh 2020 BNA CA file, will also have to do a save as of the Go System 2020 client in Go Sytem. Change the client to "active participation" instead of real estate prop. Then export that into it's own BNA file to use for CA.
 


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