ptax255
Level 7
07-04-2024
09:58 AM
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Hi, client has K-1 with rental income. Code AJ reports Gross Income and Total Deductions. Code N has business interest expense. Do I need to enter them anywhere else besides the K-1 in the individual return? Or are these reflected in the net rental income, box 2 of the K-1, hence they are informational in nature? Thanks!
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