I have rental property which I manage myself, but which is passive income. That activity earned a profit.
I also have income from a business, on a second K-1, with a non-passive loss.
My husband has a business, on a third K-1, with a non-passive profit.
Our combined K-1's have a positive total income.
I have a section 179 deduction on the above rental property. TurboTax originally applied it to the K-1 activity for the rental property income. TT later (for unknown reasons) eliminated this deduction, and is now deferring it to the following year. Since the activity for which I received it had a profit, my understanding is that I should be able to deduct it. Am I correct in this? If so, how can I reinstate the 179 deduction?
