Client K-1, line 10 shows (51,976)
Form 4797 flow through from K-1 shows only (5346)
Why isn't it the same?
Previous K-1, line 10 had ($505) and full loss flowed through to 4797.
I can't see why. Please help me understand. Thank you.
I figured it out. The loss is limited to passive income. Thanks.
