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subclam
New Member

Schedule E PAGE 2 LINE 28 WILL NOT LET ME ENTER NONPASSIVE INCOME

I used TT Business, filed 1120 S, generated Schedule K 1. Now filing personal return using TT Premier and entered under 'Business Items' 'Schedules K 1, Q'. My K 1 has negative number in box 2 but that doesn't show up in my income as negative. Instead it shows $0. My last year return from a CPA had this populated in Schedule E page 2 28(i) - Non passive income and loss section 'Loss K1'. What am I doing wrong here that TT does not reflect losses from my 1120 S on 1040? Appreciate any assistance.

Note: I have partnership with spouse and have 2 K1s generated with total loss split equally on each K1

 

MarilynG1
Employee Tax Expert

Schedule E PAGE 2 LINE 28 WILL NOT LET ME ENTER NONPASSIVE INCOME

@subclam Click this link for info on K-1 Rental Loss not Reported on Schedule E to see if it provides any helpful insight. 

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