Question
Form 1120S K-1 Section A Net loss allowed calculating zero
I have net losses from S-corp K-1's for Net rental real estate. After I enter my information and look at the 1120S form in Turbotax Deluxe, it's calculating column C as zero. Last year I entered the same information in Turbotax Premier and it calculated column c losses correctly. It automatically brought over column b losses from last year's file.
Did the tax laws change preventing me from reporting my losses this year due to some new limits, is it a function of using Deluxe versus Premier, or is there some other issue?
Mike
