<p>Can someone where I'm supposed to put these assets?</p>
<p>I own 1/3 of a small rental property in partnership with siblings (grandma's old house) ... is it "other real estate".... a "business" .... or a "partnership" (it does generate schedule K forms).... (I realize it's all 3 but I think I should only list it once, correct?</p>
<p>Similarly, I'm 5% owner of a restaurant... "business" or "partnership" (also generates schedule Ks).</p>
<p>pulling my hair out... CSS is LONG!</p>
<p>thanks for any help!</p>
<p>If your schedule K is a 1065 K-1, then it is a partnership. If it’s a 1041 K-1, then it’s an estate or trust. If it’s a Form 1120 K-1, then it is an S-corp, so it’s a business.</p>
<p>argh! I called the CSS help line and he told me that if the rental generated a K 1065 then it was a “business” … if not, it was “other real estate”.</p>
<p>I submitted the CSS and had them both as businesses. 
Does it really matter? I’m going to have to supply copies of tax returns to the schools anyway. </p>
<p>Are business/partnership/real estate assets assessed differently?</p>
<p>Thanks for the feedback. This is so confusing to me.</p>
<p>My husband handled all of our investment/tax stuff, and he passed away last June. …sigh…</p>
<p>No, I don’t think it really matters. I think they look at businesses and partnerships and rentals all about the same.<br>
Sorry to hear about your loss. Good luck on sorting this all out.</p>
<p>Business or partnership properties are those used to produce income. “Other Real Estate” would be something that does not produce income - for instance a summer cottage that you use, rather than rent out. Business or partnership are likely to be treated the same, while the other real estate is just another asset.</p>