The Schedule K-1 Form 1065 shows a loss in Box 1 and a loss in Box 2. It shows a positive amount in Box 13 code A, positive amount in Box 18 code C, negative amount in Box 20 codes Z, and positive amounts in Box 20 codes AA and AB.
I have been entering the K-1 twice in TT, first using Box 1 and 13A, 18C, 20Z and 20AA. Then the second K-1 using Box 2 and Box 20AB. There is not changes to my Federal Tax amount and TT shows my K-1 summary as $0.
Am I entering the correct lines for each K-1?
Why does TT show my summary as $0 instead of a negative amount? I would think the losses would result in a positive change to my Federal Tax amount...