Hi Thomas, I really appreciate you getting back to me!! My original question was initiated by turbo tax giving me questions about Passive Income Loss and Business carryover after I entered information from a K-1 I received for my aunt's estate. I originally thought the questions had to do with the K-1 information but then I was told that wasn't the case. I was advised that they popped up because I'm currently working as a part-time paralegal contractor at home to supplement my Social Security retirement. I only work about 7 days out of the month - not an employee. So, I did deduct for my home office space, my purchase of Microsoft Word for the job as well as having to use wireless internet - but that was it.
I've done my own taxes for years using Turbo Tax but now with the K-1 and working as a contractor, I'm dealing with stuff that makes me a bit nervous - so, I want to be sure I do it correctly. I believe Turbo Tax will let me move forward without putting any amounts in the passive income loss and business carryover questions, but I'll enter zero (like you advised) if it doesn't.
FYI: the amounts on the K-1 I got from the attorney's office were all in Part III, numbers 11a & 11d. It seems as though those numbers have benefited me in terms of my taxes this year, although I don't really understand why.
If there is any other information you feel would be helpful to me I would greatly appreciate it. THANKS!!
