I have a K1 that reflects a loss on line 2 of the k1. When i enter the K1 info in the income section of turbo tax, the loss doesn't appear to be recognized as an offset

bill2400 — Wed, 01 Apr 2020 19:25:14 GMT

Re: I have a K1 that reflects a loss on line 2 of the k1. When i enter the K1 info in the income ...

MinhT1 — Wed, 01 Apr 2020 19:48:09 GMT

Box 2 of your Schedule K-1 reports the net rental estate income/loss.

Unless you are a real estate professional, the loss is a passive loss and passive losses cannot be deducted (they are suspended) if your MAGI is over $150,000.

Please read the What are passive activities and how do they affect me? section of this TurboTax article for more information.

topic I have a K1 that reflects a loss on line 2 of the k1. When i enter the K1 info in the income section of turbo tax, the loss doesn't appear to be recognized as an offset in Business & farm

I have a K1 that reflects a loss on line 2 of the k1. When i enter the K1 info in the income section of turbo tax, the loss doesn't appear to be recognized as an offset

Re: I have a K1 that reflects a loss on line 2 of the k1. When i enter the K1 info in the income ...