I have box 1 and box 2 info on my K1. I entered that info on TT as two K1s; understand that. Box 1 is my corporate overhead expenses, so it will always be a loss, while box 2 is the revenue/expenses profit from our rental apartment complexes. With box 1 always being negative as ordinary business income, will it still be deducted from my box 2 income in figuring my taxes? There isn't some IRS rule that limits losses from box 1 against box 2 income like the loss limits for annual securities losses against other income is there?.
