Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Completing Form 8990 from K-1 (1065)
Completing Form 8990 from K-1 (1065)
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
abs96
Level 3
Sunday
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a K-1 (1065) with a loss ($-2970) on line 2; Line 5 is $26; Line 20, code A - $26; code N - Sch K-1, Line 2 Business Interest Expense - $1645; and code AG - Gross Receipts from 2023 - $300.
How do I complete a Form 8990? Or do I need to?($-552) on Line 2. All other lines are blank.
There is also a Schedule C with a loss on Line 31 ($-20,558).
There is also a Schedule E for rental real estate properties with a combined of 6 properties with a profit ($7123).
Does the Schedule C and Schedule E have anything to do with Form 8990?
There is no other business interest expense on the return.
The return also has W-2 income.
HELP! Any help would be appreciated as to where to put these amounts on Form 8990. I have been trying to make sense of this.
Labels
