K-!

[Irvine1]

My wife and I have a real estate rental LLC business, we are equal partners.  The K-1 for each is identical.  When I entered the info for her K-1 there was no change in the refund amount.  There was when I entered mine but no change when I entered hers.

[Irene2805 · Accepted solution]

It's hard to tell without seeing the return.  Perhaps the income added from your K-1 was enough to put you over the limit for some credits or put you in another tax bracket.  When you entered hers, it didn't change your status--you were already over the limit or remained in the same tax bracket.

[Irvine1]

Thank you.  I'm sure you're right about the limit of the deduction since most of the deduction is depreciation and I there is a limit if you are a passive investor.