I received a K1 that has in box 13 code V, section 743(b) negative adjustments. It was structured this way to offset capital gains from the partnership selling some of the assets. The tax advisor for the partnership instructed me to mark the box 13, code V, item as non-passive so it doesn't get suspended/disallowed.
However, Turbotax lists the deduction from box 13 as both a loss and income in columns (g) and (h) in Part II of Schedule E (page 2). How can I stop the software from listing the deduction as income in column (h)? Alternatively, how can I mark box 13, code V, as non-passive?
Thank you!
