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Schedule K-1 section 1231 loss increases my tax
I'm entering Schedule K-1 information for a real estate partnership. The partnership sold some properties at a loss. When I enter a "Section 1231 loss" amount (negative number) from Box 20 on the K-1 form, my tax amount increased in TurboTax. Why would a loss increase my taxes?
‎September 15, 2023
9:38 AM