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I have a schedule K-1 LLC. What do I put for carryovers for "Box 2a"? Do I put my passive activity losses from last year or leave blank as this is not "ordinary income"?
The LLC is organized as a partnership. The schedule K1 I have is for real estate, and thus does not have a 'Box 2a.' In the screen(s) for regular tax (and AMT) carryovers for my passive loss ("Report Carryovers - Regular Tax"), TurboTax lists "Box 2a - ordinary income" NOT "Box 2 - Net real estate income". Should I put in my passive loss from last year in Box 2a or leave this blank as the passive loss is not ordinary income? To be clear, the only box (in Part III) with any value on my K1 from last year is Box 2, which lists my passive activity loss.
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‎June 3, 2019
10:51 AM