Question
Schedule K-1, line 11ZZ question
I am dealing with a K-1 that has income in box 1 and a loss in box 2.
Box 11, code ZZ shows a small amount of income. In the footnotes it describes this as "OTHER ORDINARY INCOME."
Is it most appropriate to add this to the box 1 amount, or to enter it as a "Other" passive item under "Less Common Scenarios" - "Separately Stated Income and Deductions?" If I do the latter, it flows onto line 28 of Schedule E as a separate entry.
Any help would be appreciated. It seems that 11ZZ is new this year.
