retailsys
New Member

Business & farm

First, I appreciate your help on this.   Very, very small S Corp and doing this myself.  I did do exactly what you said.  See Screen shot.  However the K1 is showing the loss under Box 9 as a 1231 loss.  From everything I read that is real property.   Is a vehicle for this purpose considered real property?  Also do I enter the $12,000 as other income to account for it or did Trubo Tax handle that already for me?

k1-0.jpg

k1.jpg