Hello,
I received a K-1 as a passive investor in a real estate investment partnership. The partnership is reporting losses, and I expect that when the real estate is sold, I would have business income. The K-1 currently reports a loss on the investment.
My question is whether this loss is considered QBI and subject to QBI carryovers? I am using TT Desktop and there is a question on entering QBI passive loss. Do I enter anything in here, and if so, is this loss the entire amount, as provided by the Income Statement of the investment, or my portion of the investment loss?
Thanks,
GB