TurboTax: 3-person LLC invested in larger Apt Complex. How to TT?

[Adam L.]

So got a question...this is my first time doing this...I'm trying to fill this out in Turbo Tax and understand what to do.

I and 2 friends pooled $100k into a small LLC to invest in a large apartment complex purchase ($7M+ deal). We just received the K1 from the large company and am trying to break it down and figure out what to do w/ it. It looks like a large depreciation/operating loss upfront that the Large LLC said would be taken in first year to offset future taxes.

Any thoughts? I'm in Texas...TurboTax is walking me through filing TX Franchise Tax paperwork and its starting to get a bit confusing.

Thoughts? see attached.