@platterell1 wrote:
We do not sell anything or make any money on the property - we have zero income.
In what manner is the property being held? What are the circumstances? What equipment?
If the property is not being held for the production of income or in a trade or business (e.g., rental use), then you do not need to enter a business code nor should you be depreciating any property. Further, deductible expenses would be limited to property taxes and mortgage interest.
The member contributions are just that; contributions to capital.
You might want to provide more details concerning the nature and use of the property.
