I had my first K-1 for a family LLC. Line 1 shows loss of (-$1,048). Line 2 shows net real estate income of $2,367. I had to amend my 2016 filing and assumed I would get a refund because of the loss, but instead I owe both Fed and State. (line 14 does show the self-employment loss of -$1,048). Why is this adding to my taxes if the LLC showed a net loss?
