topic I received a K-1 which showed losses and distributions. I entered that information under K-1, but none of that information appears on Schedule E. Can that be correct? in Business & farm

I received a K-1 which showed losses and distributions. I entered that information under K-1, but none of that information appears on Schedule E. Can that be correct?

grandalf — Sat, 01 Jun 2019 17:32:48 GMT

Rick19744 — Sat, 01 Jun 2019 17:32:49 GMT

Are you passive or active?

grandalf — Sat, 01 Jun 2019 17:32:49 GMT

passive

Rick19744 — Sat, 01 Jun 2019 17:32:50 GMT

TT is handling this correctly.

Passive losses are only allowed to the extent that you have passive income.
Unless you have passive income, then your passive losses will be suspended and carried forward indefinitely.
With respect to your distributions, you need to make sure you maintain a tax basis schedule. You will need this when you dispose of this investment.
Additionally, if distributions exceed your tax basis, then you will have to recognize capital gain to the extent of any "negative" tax basis; essentially getting you back to zero.

grandalf — Sat, 01 Jun 2019 17:32:52 GMT

Perfect. Many thanks.