Still confused on the recording of net rental loss (box 2) on my K-1 I just received. Property is a SFR condo unit being rented which I own 25% and was acquired in 2021. Property does not require special handling for real estate and all of my investment activity is at risk. The person preparing the K-1 reflects it as passive income and checked box 20 (Z stmt) which included statement A and disclosed the same rental loss and UBIA value of qualified property which greatly exceeds the tax loss. In using Turbo Tax and answering the questions, I am getting no tax benefit of the loss to reduce my taxable income. Any thoughts? Thanks
