xcai5591
New Member

Self employed

Hi Patricia,

 

I am trying to follow what you said here. I have AJ in box 20. The supplemental page is as the screenshot below. 

 

Question 1: Should I put in 2 entries in the Other Description step, where I enter the description manually as none of the listed ones show up in my form? One entry for "Aggregate Business Activity Deduction" with the amount of 314,136. And the other entry for "Ordinary Income (Loss)" with the amount of -314,136?

Question 2: I am filing jointly. I was expecting to see the loss from this (Box 1 shows -314,136) to offset my other income (W2, etc.). But the TurboTax doesn't seem to reflect this loss in my income. Any idea why?

 

 

K1 Supplemental Page.png