mikazamx
Level 1
09-21-2023
09:59 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I need the rental income to flow from the K-1 to Schedule E to offset depreciation and other expenses on the individual return. The K-1 is from an S-Corp. Am I missing something?
Labels
abctax55
Level 15
09-21-2023
10:14 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The rental income from the K-1 would already HAVE the appropriate depreciation and appropriate expenses deducted.
What 'depreciation/expenses' exist at the F 1040 level and how are they (supposedly) related to the income from the S-Corp?
HumanKind... Be Both
qbteachmt
Level 15
09-21-2023
11:16 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"Am I missing something?"
Perhaps there is some confusion over the legal owner of this rental property, and perhaps who is operating it is not the owner?
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
