990-T Part v; Line 9 reference
The Form 990-T; Schedule A; Part V; Line 3b is a Rental Property "attach statement" line. You complete the "Explanation Statement" (in this instance, a detail of the rental property operating expenses other than Depreciation. Part V; Lines 4 & 5 are used to calculated the taxable allocation of gross rental income and expenses (by property). This % is then used to reduce the gross rent & expenses to the avg debt / avg NBV of rental property ratio.
On the "Explanation Statement" there is an ALLOCABLE EXPENSE AMOUNT which is calculated, using the same ratio of Avg Debt / Avg NBV. The note on this line references it should (must) equal Part V; Line 3b.
I think that reference is wrong... it should equal Line 9; Allocable Deductions. This is causing computational (or reference) errors for each property. The amounts appear to be calculated correctly (there can be rounding errors because Part V; Line 6 allows 4 decimal places... The Explanation Statement allows 3 decimal places. This has been very frustrating, especially if I am wrong in my outlook & your layout is (in your world of programming) properly done. Need some help in figuring this out.
