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Investors & landlords
If it's supposed to be entered as a positive number then I'm a bit disappointed in the clarity and constancy of Turbo Tax on this. When doing taxes it should be pretty dang clear on if you are putting in a loss/gain. This is probably the only part of my taxes I'm not sure about and I really don't want to have to call a CPA for it. :/. I think the Section 199A Code Z on a Schedule K-1 has to do with a deduction the business is taking. I'm just not sure if it is meant to space that loss out over tax years, so maybe that's why putting in the loss as a neg number gave me less of a return; because it's pushing the loss forward to 2021 tax year? I'm not sure.. I guess I need to dig deeper.
‎April 12, 2021
12:13 PM