How the following questions are answer?
Does TT calculate, add ALL depreciation and all loses from my dozens of K-1 behind the scene and if there were any positive number (net profit) then it would have automatically populated that as income on form 1040?
Is this what TT does?
For now, since the sum of dozen of K-1 is still negative (loss) TT is not populating anything on form 1040. Maybe TT is computing behind the scene and just carry forward the depreciation and losses to the next year on Form 4562, 8582, E, and 8995, since it is still negative (loss), is that Correct?
Would TT ever populate form 1040 if and when all K-1 put together shows net gain?
I just want to make sure that TT is adding all K-1 and then deciding to populate the 1040 or not. There is no indication of that. There is no way a user to know that. There is no message about this from TT.
