If possible, check Part II on page 2 of your Schedule E.
EXACTLY my problem too. TT is not deducting the amount of 754 Depr which is throwing everything off. I have spent hours trying to figure out a workaround, to no avail.
Contact TurboTax support and speak directly with a TurboTax support agent concerning this situation.
See this TurboTax support FAQ for a contact link and hours of operation -https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number
Nope. TT just doesn't subtract the amount on K-1 Line 13, which results in inflated income, QBI, and ultimately in tax due. I would workaround manually if I could figure out where to make manual adjustments. This is holding up my entire return, plus state return.
thank you ... the link that you posted is empty - no hours or phone - I can probably find on my own.
Just spoke w TT Help, and fixed quickly.
Do record the amount from Box 13 on your K-1, under the code noted on te K-1.
If you have an amount reported in Box 20, reduce that amount by the amount in Box 13. That fixes everything.
TT told me IF you receive a notice from the IRS re this, to write a letter stating that the amount in dispute was reported on your K-1, and send a copy of the K-1 - certified mail.
Hope this helps.