Thank you for your response.

The answer to your question "if the business is the one on schedule C" is yes. The K-1 was issued to the Single member LLC business, and it is a loss from the business ordinary activity because the primary curse of the business is investments which is from REIT, securities and some real estate acquisitions. This is why I am skeptical about reporting it in the other income not received from the LLC activity section. the taxpayers name was not on the K-1. 

Any idea if it is possible to enter it in the K-1 1065 section in pro connect and link it to sch C or would I just have to enter it as an ordinary business or loss directly on the sch C. 

Your input is highly appreciated. 

Also, just for clarification, my post does not indicate that the LLC elected to be treated as a Corp, nor did it indicate that it elected S-corp. Thanks for the observation. I can provide clarification If i was not clear enough, and I don't understand the seminar part, that was not necessary. please elaborate.