$10500 as should be reported on schedule L current year income /loss. Line 13K may not be currently deductible. Form 8990 must be completed to determine if it is. Turbotax does not do the form. It must be completed manually and your return would need to be mailed. It is unknown, what the results would be with the IRS if you file and omitted 13K/8990.
Line 13K. Excess business interest expense (EBIE). If the partnership reports EBIE to the partner, the partner is required to file Form 8990. See the Instructions for Form 8990 for additional information.
For tax years beginning after 2017, the partner’s basis in its partnership interest at the end of the tax year is reduced (but not below zero) by the amount of excess business interest allocated to the partner for the tax year, even if the partner isn't allowed a deduction for the allocated excess business interest in the year of the basis reduction. If the partner disposes of a partnership interest in which the basis has been reduced before all of the allocated excess business interest is utilized, the partner increases the basis immediately before the sale for the amount not yet deducted. Turbotax cannot track the non-deductible interest so you will have to keep track.
