maglib
Level 10

Investors & landlords

@tseib   The reporting fee is passive as well as the rental income so combining it would be fine, they both should be reported on Schedule E  which is rental.  They both are passive income or losses.

 

 Yes, you can leave the distribution blank on the other K-1 entry. In actuality, it won't affect your tax anyways.

 

You should also be entering any other expenses you may personally have within the schedule E such as mailings, stationary, maybe a portion of a computer,  the portion of TT costs that required an upgrade to file, maybe visits to the farm or the accountant, etc.

 

 

You should read up on what each line item is and where it should flow to on your tax return. It is sometimes easier 

https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf

**I don't work for TT. Just trying to help. All the best.
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I am NOT an expert and you should confirm with a tax expert.