lrambabu1
Returning Member

Business & farm

> we can't see your return or k-1

I would be glad to share those with you.

 

> the ordinary loss on schedule E which flows to schedule 1 line 5 is offset by an equal amount of capital gain form 1040 line 7. 

So this gain that is shown on Form 4797 2(g) is just a made up number, to offset my allowed net loss number on Schedule E, $9,859, because I have too much PAL?