1) Received Partner's Sch K-1 which shows Part III Line 20 Code AJ* The Description for this Code AJ is " Aggregate Business Activity Deduction"
Where should this deduction be entered on the 2023 IRS form so that it would properly get accounted for on Form 1040?
2) The Sch K-3 shows everything US Source, nothing foreign source. Where to transfer the info from Sch K-3 such as Part II Section 2-Deductions shown on Line 37-Derpeciation, Line 41-Other Business Interest Expense, Line 44-Sec 59(e)(2) expenses, Line 55-Net Loss ?
Part II Section 2-Interest Apportionment Factors show amounts on Line 1-Total Average Value of Assets, Line 6a and line 6b.
Part X Foreign Partner's Character & Source of Income & Deductions: Section 2-Deductions, losses, net income - All amounts are US source, nothing Foreign source. There are amounts in Line 1,7, 10, 24 & 25 with Net loss
Where should all these amount from K-3 be entered on the 2023 IRS form so that they would properly get accounted for on Form 1040?
