My wife and I have a partnership LLC owning our sailboat, which is in commercial charter fleet. Under the boat management agreement, the charter company manages all aspects of the boat and pays us a set monthly fee. This is clearly a passive hobby activity. The LLC K-1 shows a loss every year due to interest on the boat loan and depreciation. In entering the LLC K-1 into our personal return, the interview asks for passive loss carryovers. See attached. Just what are the "Box 1 - Ordinary Income", "Box 2a - Ordinary Income" and other information requested by this screen? Where do I find them? There is a similar screen for AMT passive carryover. The built in help doesn't offer any useful guidance.
