Rental House-S Corp Realtor

[Hoosier]

Got a client who is an S-Corp real estate agency. The agency owns a couple of rental houses. Should the income and expense activity from the rentals be reported along with the other operations activity on page 1 of the 1120S or is there a separate form for reporting this activity. If there is a separate form I would think that the income/expense activity would flow to the K-1 without affecting page 1 of 1120S. Any thoughts?

[joanmcq]

I don't have an 1120-s in front of me, but the rental income should flow to the K-1 separately from ordinary business income. Ah, here it is. Reported on Form 8825 which flows to page 2 of 1120s section K line 2.

What idiot put rental RE in an S-corp??????