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Business & farm
We are a Trust, have received BI from our loss in the Maui Fire., lost a retail shopping center. The income will be reported on a K-1 to the trustees, however the K-1 will not let me report Ordinary Business income and rental real estate income on 1 K-1, it says I must issue 2 K-1's, not allowed values on more than 1 line on the K-1 from lines 6-8, why not? Why can you not have ordinary income and real estate income as that is how I am supposed to report it.
‎February 5, 2024
10:51 AM