I am an individual with a K-1 from a Partnership business pass through. I always used to be able to deduct common element expenses, depreciation and property tax in past years from the business income entry. The K-1 entry for the expenses is on line 13 code ZZ of my K-1.
This year, I don't see that TT subtracts that amount from the business income, line 1. It only reduced the income by about 17%. Is this because of the "extra Taxable interest" entry in 20AE? Is an individual taxpayer subject to tax on extra taxable interest?
