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Business & farm
No, you should not try to correct this yourself. If this amount is wrong, it needs to be corrected by the K-1 issuer.
There are a number of reasons why the number from Form 8825 would not match what is on your Schedule K-1. The most obvious one is that your ownership percentage applies to the total rental income or loss.
There may also be limitations on the amount of loss allowed, or in the figure is positive, it may have been offset by prior year losses.
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‎April 19, 2023
9:06 AM