I am using TurboTax so my apologies if this is somewhat software specific, but I think it is till applicable.
I received a K-1 from a Real Estate based LLC. In TurboTax, if you choose that your LLC is a "Real Estate" business, you only get to enter Box 2 of the K-1 (net real estate income). It then asks you for Box 14A (self-employment earnings). Where does TurboTax use that number (aka box 14A) later?
I never get to enter box 1 of the K-1 (business income) unless I add the LLC twice into TurboTax, once for the "Business" and once for the "Real Estate" option. This naturally affects the Non-Passive versus Passive income amounts. When I add them both, my refund increases signficantly...
Help please.