If I put my self-paid SEHI expenses in a Schedule C, TT clearly limits the deduction based upon profit/loss.
If I enter the same expenses on my 1065, it flows thru without being limited based upon profit/loss. I get a larger deduction to my personal tax return, but I believe it to be incorrect, because it is not limited by the small profit in my family LLC.
What am I doing wrong?
How do I enter the SEHI expenses in my partnership tax return to ensure it is limited by profit/loss??
Thanks.
