Hi all.
My NC K-1 has the following numbers:
line 1: -2500
line 2: 1500
The Supplemental Schedule has:
line 3: Bonus Depreciation: 1500 (both Column A and Column B)
Then looking at Schedule PN Part B generated by TurboTax, I see no K-1 loss in Column A (I would expect this to be on line 11 - Rental Real Estate, Partnerships, etc).
But the Bonus Depreciation does appear on line 17c.
And here are my questions:
1) why is line 11 column A zero? I had several federal K-1s, all with losses. TT does not let me edit this value manually either.
2) what do I enter in column B? If I only enter Bonus Depreciation then TT calculates a tax liability. Can I enter the loss in Column B on line 11 even if Column A is zero? If I do this then there is no tax liability.
Thank you!
