2023 Basis Worksheets, Partner's Basis Worksheet (form 1065)
I'm doing a partnership return that has a net rental loss for the year in Proconnect. When I run the returns though, the basis worksheet is showing an increase (line 4b) for net rental real estate income. Since this partner gets 100% of the allocated income at this point, I would expect it to tie to the net income calculated on the Form 8825, but I actually have no idea what this number is or how to calculate it. This is an amended return and tied out to the prior version (all I did was add in taxes and insurance). Did I perhap mess up depreciation or something? The rental income calculated looks correct but i can't figure out how to make sense of the net rental real estate income pulling through on the basis calculation. Any advise for me to understand how to fix this would be greatly appreciated.
