I just consulted K-1 issuing firm. They mentioned the net income = Sum of Line1,2,5,6a,9a,10 - 13a-13k-18c
How can the sum up 1 (ordinary income) and 2 (rental income). TT asks us to create separate entries for ordinary and rental. So if Ordinary income = $100 and rental income is (loss) = $(20), K-1 is saying net is $80 but TT is saying put separate entries due to which I pay tax on $100 and 0 tax on rental since that is a loss ?
Moreover K-1 says subtract 13 A and 18C entries from ordinary income but TT software does not really reduce ordinary income if I put these numbers ? I have paid substantial extra tax because TT is not working the way it is supposed to ?
