Business Activities dialog

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Use the Business Activities dialog to create, define, and delete business activities from Planner CS. Also use this dialog to access data-entry fields for a specific activity

To open this dialog, click the Activities button in the main data-entry window.

Special information

Entering business activities

Deleting business activities

Fields & buttons

Use this field to enter the name of a new activity or to rename an existing activity.

The Activities list shows all business activities previously created for this plan. When an activity is highlighted, you can modify its details in this dialog, delete it, or click the Data Entry button to enter data for that activity.

Use this field to select the type of activity for the highlighted asset.

Note: When Passive Non-Rental or Active Participation Rental is selected in this drop-down list, several 8582 tabs will be available for data entry in the main data-entry window. Use the 8582 tabs to enter passive income or loss, and prior-year unallowed loss carryover amounts associated with the passive activity.

Select Taxpayer or Spouse from this drop-down list to specify who will be associated with the highlighted activity.

For a passive activity, select Yes or Yes - investment income if the activity is subject to the net income recharacterization of passive income rules. If the activity has overall net positive income, then income and and loss amounts from the activity will be recharacterized as non-passive and will be excluded from the form 8582 passive loss limitation calculations.

If you select Yes - investment income and the activity is recharacterized as non-passive, then income from the activity will be treated as investment income as follows:

  • Overall net income will be included as investment income on the Deductions / Investment Interest tab.
  • Operating net income will be included in the net investment income tax calculation on the ACA / Net Invstmnt Inc Tax tab.

Examples of recharacterized activity income to be treated as investment income include:

  • Rental of land or other nondepreciable property
  • Equity-financed lending activities
  • Licensing of intangible property

For a material participation activity (including real estate professional), if you select Subject to NIIT from this drop-down list, operating income or loss from the activity will be included in the net investment income tax calculation on the ACA / Net Invstmnt Inc Tax tab. By default, Planner CS assumes material participation activities are exempt from the NIIT and passive activities are subject to the NIIT.

Mark one or more checkboxes to associate the highlighted activity with a particular schedule or form.

Note: Each activity must be associated with at least one schedule or form.

Click this button to enter data for the highlighted activity.

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