Why Form 1120 C Rental 2023-2024

Let's talk about the Schedule E. We are in the federal section under income and we're going to drop down to our Schedule II rents and royalties. Jumping in here, it says, "Check here if you've made any payments in 2016 that would require you to file form 1099." It's either a yes or no question. Did you file 1099s and make the payments or no? We're going to click continue here, not worried about that, and we're going to get into our rent and royalty. We're going to, in this scenario, talk about a single-family residence. The description of the property is going to be 1st Street. And it would help if I could type. There we go, and the address is 1st Street and in 33016. Oops, oh well, that's fine. What was your percent of ownership? 1100 percent. What is your rental payment? How much did we receive for the year? Let's say $8,000. Did you have any refunds, returns, or allowances? No. Enter the number of days that the property was rented at fair market in the entire year. Did you guys use it for personal use at all? No. Check here if it's a joint venture. If you may actively participate, I did. We got a lot of calls about this for the losses on a property not carrying forward. And this seems to be the most common thing. "Hey, I bought this property in this current year, had to put a ton of money into it, I actively participated, but the loss for the property isn't carrying over to the 1040 like it should." What's up? Come in here. We checked the that says they actively participated, and there it pops up. So again, if you actively participated, there are rules defining that, what...