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ebw_Keuka
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Determining Final K-1 Ordinary Gain/Loss or 1250 Gain/Loss

My beginning capital account for my K-1 (as a limited partner) was $9878. I sold my share at the end of 2018 for $1. The only box with information entered is 9a showing a long-term gain/loss of -9878. Would the Partnership Basis for TT be 9878? Would I indicate -9877 under Ordinary Gain/Loss as nothing is indicated in box 9c? The next screen shows long term loss of -9877 but with nothing entered under Ordinary Gain/Loss, I am seeing a zero in the Business Investment Deductions summary instead of realizing a usable loss.

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Determining Final K-1 Ordinary Gain/Loss or 1250 Gain/Loss

it's your beginning capital account plus contributions and then current year items increase/decrease basis reported on your K1.

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