Hi,
I'm filing late for 2022 because I was waiting on my K1's to be completed. I have a real estate business that I am actively managing more than 500 hrs/year. I had a sizable business loss (Box 1) and a sizable rental real estate loss (Box 2) due to first year refurbishment and startup activities. I've been inputting into TT each box as separate K1s and the business box 1 loss flows against my 1040 and results in a good tax savings, However, no matter how I input box 2, I never see a reduction of my owed tax. My income is a pension that is around $150K. Any idea why I'm not seeing a benefit for this box 2 loss?
Thanks,
Nashguy
