Investors & landlords

This has been a constant issue with Turbotax so I don't know if it will be fixed for 2023. when you have amounts on multiple lines 1, 2 and/or 3, Turbotax requires you to enter each line on a separate k-1. 

 

I would say that for general expenses in your real estate partnership, you allocate those expenses on the rental schedules. Consistently use any logical method. such as an equal portion to each,  based on time spent on each, or revenue.  I don't believe reporting these expenses on page 1 of the 1065 is proper.  

 

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