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Business & farm
the real estate k-1's likely elected out of the provisions of 163(j), so they can be ignored
A real property trade or business (as defined in section 469(c)(7)) may elect out of the section 163(j) limitation. Real property trade or business means any real property development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage trade or business.
Turbotax does not handle the 8990 so it would have to be completed manually and your return mailed in.
‎June 29, 2021
12:08 PM