Entering business activities

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Use this procedure to enter information for business activities.


  • Passive activities: Use this procedure to enter business income/loss amounts for passive activities. However, this procedure cannot be used to enter nonresident state source amounts. Instead, click the state module button on the Planner CS toolbar and enter passive activity data in the state's nonresident income tab.
  • Material participation activities: You can enter net profit/loss amounts for material participation activities in an applicable tab under the Income button of the federal module, or use this procedure to enter more detailed information. However, this procedure cannot be used to enter nonresident state source amounts. Instead, double-click a field in an applicable tab under the Income button and enter state-specific material participation activities in the Allocation window.
  1. Click the Activities button in the main data-entry window. The Business Activities dialog opens.
  2. In the Activities list, highlight an existing activity for which you want to enter data, or add a new activity.

    Adding a new business activity

    1. Click the New button in the Business Activities dialog.
    2. Enter the name of the activity in the Current activity field.
    3. Select a passive or material participation category from the Type of activity field.
    4. Select Taxpayer or Spouse from the Taxpayer/Spouse field to specify the individual associated with the new activity.
    5. For a passive activity that is subject to the net income recharacterization rules, such as a self-rental activity, select Yes from the Recharacterization of passive income? field. If you select Yes - investment income, the application treats income and loss amounts from the activity as investment income for purposes of the itemized investment interest deduction and the net investment income tax.
    6. For a material participation activity, if net income or loss from the activity is subject to net investment income tax, select Subject to NIIT from the Force NIIT treatment field.
    7. Mark the checkbox for each form required for this activity in the Form(s) activity is associated with group box.
  3. Click the Data Entry button. Planner CS enables the data-entry tabs for the forms associated with the activity and opens the first tab in the main data-entry window.
  4. Enter data in the appropriate tabs and fields. Or, double-click a data-entry field to open a window in which you can enter detailed information or multiple items for that field.
  5. If necessary, repeat the steps in this procedure to enter data for additional business activities.

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