Form 8825 Rental real estate income and expenses of a Partnership or an S Corporation

1-100 Engagement set-up

Review the client's trial balance to determine whether there are rental income or expense accounts that should be reported on Form 8825. If applicable, select Yes for Does the trial balance contain rental income/expense accounts to be reported on Form 8825? in 1-100 Engagement set-up.

When Yes is selected, the 8825A Form 8825 group will be available under the S Corp and Partnership grouping structures on Data | Assign Accounts. Up to 40 properties are currently supported.

Tax group assignment

Form 8825 tax group numbers begin with the property number followed by a hyphen and the tax group code. For example, 1-802A Gross rents identifies tax group 802A for Property 1.

Use this numbering scheme to quickly filter tax groups when assigning accounts:

• To find tax groups for a specific property, enter the property number followed by a hyphen in the search bar, such as 1-.

• To find a tax group across all properties, enter a hyphen followed by the tax group code, such as -802A. Enter -802 to include all tax groups beginning with that code.

Tax export

Form 8825 export is currently supported only for GoSystem.

For other tax vendors, the export file may not balance and Form 8825 data must be entered manually. Support for additional vendors will be available in a future release.