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Ordinary business income (loss) doesn't showup in PERSONAL/Personal Income

I'm using TurboTax Home and Business.

 

Have k-1, the box 1 has  Ordinary business income (loss) -3600.

 

After i filled in everything for this K-1, and go back to PERSONAL/Personal Income page, which lists Wags, Interest, Investment Income ...

the income for "Schedule K-1" is still 0, not -3600. What am i missing pls ?

 

Thanks !

 

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1 Reply
AnnetteB6
Employee Tax Expert

Ordinary business income (loss) doesn't showup in PERSONAL/Personal Income

If you did not materially participate in the business generating the K-1, then the loss is considered a passive loss.  Therefore, showing $0 next to the K-1 section is appropriate.  

 

You should see the loss reported on Form 8582, which you can view using the Forms button at the top of the screen.

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