Hello,
My husband and I have a 50/50 partnership ( General and Domestic Partners) in Texas - LLC - which includes one Rental House. I actively participate in all my rentals (others listed under personal return) - keep logs - no W2 job - its what I do full time etc etc. Even though this partnership could be done on our personal return (due to community property in Texas), I'm continuing to report on the 1065 just cause the original CPA started off this way.
All previous year Schedule K-1's for each partner have Line 1 and 14 as the same number - The Ordinary Business divided in half for each partner.
Looking in Forms view right now (have not submitted the 1065 yet), it appears that line 14 on each K-1 is going to be the sum of lines 1 and 2 (ordinary business and Net Rental, vs historically it was just equal to line 1 for Ordinary business).
What could have caused Box 2 - Net Rental Real Estate to be included in Line 14 this year?
Thanks in Advance!
