I have had several rental properties for over 10 years with Schedule E Section 179 Carryover Loss using Turbotax Deluxe and Premium. I have now created multiple LLC's and have a multi-member owning LLC - therefore required to complete 1065 and create K-1's for my personal return.
My question is - Where in TurboTax Business (1065 or related forms) do I reflect the Carryover Loss or because I am going from 1040, Schedule E, Section 179 to 1065 Form 8825 Worksheet there is no place for carryover loss entry?
Is it correct that the Section 179 Carryover Loss can then only be applied when I complete the sale of the property?
Thanks!