RENTAL INCOME AND BUSINESS LOSS REPORTED ON THE SAME k1 fORM 1065
Why won't Turbo Tax allow me to deduct business losses from my rental income which exceeds the loss and is reported on the same K1 form from one business entity. Instead Turbo Tax makes me file two separate K1s and does not combine them, so I get no benefit fr4om the los and pay taxes on the full rental income- approximately 50%