Rick/Nexchap, so I gave these K1s to a tax preparer and what he is doing is this.. for 2017 he just took Box1 365 amount and then used it to offset ongoing rental losses. He took the amt amount in box 17 and put it in the AMT form. That’s it.
First, shouldn’t he be doing the carryover loss calculation as we did above for 1655$?
Then can one combine Box1 gain and Rental Loss? Both are passive, but I was reading that PTP numbers shouldn’t be combined with others.. that they need to be tracked separately..
Let me know.. Thanks
