I received a Schedule K-1 with information in box 20, code V. The information in the K-1 for box 20, code v is as follow:
1231 GAIN/LOSS FROM DEBT-FINANCED PROPERTY -308.
DEDUCTIONS DIRECTLY RELATED TO UBTI GROSS INCOME -18,926.
STRAIGHT-LINE DEPRECIATION NOT INCLUDED IN DEDUCTIONS -7,950.
UBTI GROSS INCOME FROM DEBT-FINANCED PROPERTY 16,394.
When entering the data into turbo tax I only have the following categories/boxes available to enter the data:
ABC LLC has Section 179 deductions
ABC LLC has other deductions
ABC LLC has W-2 wages
ABC LLC has UBIA of qualified property
ABC LLC has REIT Dividends
Based on my K-1, which category or how should I enter my info into the turbotax?
