TurboTax comment explains that the investment tax credit exceeds the business income limitation and shows -$5000 for business income which is the start up costs deducted. The rental income from the commercial property with the new roof generated 5x the cost of the new roof and is the only asset of the partnership. Do I add the full amount of rental income as business income at the entry for additions to business income since it seems none of the rent is included?
