My GA state K-1 has "footnotes" with various numbers? Where to enter them in GA state return?

[ghettodawg]

Hello Turbotax experts,

I am a partner in an LLC that owns and operates a multifamily property in Georgia state (GA).

I received a K-1 form for 2019 that also has a GA form 700. I managed to enter the numbers from this form into my GA state tax return using TurboTax for desktop; I am satisfied with my craft.

But there is also a page "GA Schedule K-1 Footnotes" with the following items on it:

Gross income from debt-financed property: 14,910.
S/L depreciation directly connected: 10,985.
Other deductions directly connected and: -14,185.
Average acquisition debt: ...actual number not shown here...
Average adjusted basis of debt finance property:...actual number not shown here...

Where should I enter these numbers in the GA state return?

Also, I wonder: Every year so-far my investment shows a loss (due to the large deprecation amounts).

Does the loss accumulate year-after-year on some GA state form, which will be used in future years to offset profits? What is that form?

Thank you!

- your ghettodawg.

[DavidS127]

Ask the preparer of the GA Schedule K-1 you received if the amounts from the statement attached to your GA Schedule K-1 must be reported on the GA state tax return.  If so, you should find a "screen" in the TurboTax state tax questions to enter those amounts.

To the extent you have passive losses, those losses are "suspended" at both a federal and state level, and the cumulative suspended amount is carried forward until such time as you have passive income or (more commonly) when the partnership disposes of the property.