I have investment interest expense reported to me on a k-1. My k-1 footnote includes the following language:
1040 FILERS SHOULD ENTER THIS AMOUNT ON FORM 4952, LINE 1. ANY DEDUCTIBLE AMOUNT SHOULD THEN BE ENTERED ON SCHEDULE E, PART II, COLUMN (I). TurboTax is not putting the deductible amount on Schedule E. Instead, it is putting it on Schedule A as an itemized deduction. How do I get TurboTax to properly record the income on Schedule E.? The k-1 states that this is not a passive item and it also states that the k-1 was prepared for someone who does not materially participate.
