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ProSeries Frequently Asked Questions

Form 1040, Schedule E, Page 2 Passive Income and Loss May Not Display

Products Affected:

• ProSeries/1040
• ProSeries Express/1040
• ProSeries Basic/1040

Situation

In a return with a Partnership or S Corporation Schedule K-1 with income on line 1 or 2 and a suspended loss carryover greater than the current year income, Form 1040, Schedule E, Page 2, line 28, Passive Income and Loss, columns f and g are blank instead of displaying the income amount and loss equal to the income amount.

Solution

This situation was corrected in the Federal 1040 update that became available online on February 17, 2007. Download and install the current update if you have not already done so. (Go to the Update menu and select Update Installed Products.)

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