My husband owns 20% of a business where he is also an employee however the business accountant told me the ownership from this will be listed as passive income.
So here are my questions, the company provided us with a Schedule K 1120s for corporation. (I'm going to round off these numbers)
The Ordinary Income listed is 13,000
Then later in box 11, there is a standard 179 deduction of 11,000
The business accountant told me to list $1,000 of passive income on schedule E and then add that as income in the appropriate place on the 1040. (no other numbers are listed on schedule e) just this one

1) Is that correct for it to be the only other number listed on schedule E
2) are there any other forms we need to fill out in regard to that deduction? we weren't provided with any other business information.
Thank you for your assistance