Tax Year Prior to 2020: What to do with "Ending Capital" on line L of K1?

[yuanqu]

So I am in an LLC partnership. For 2019 we had $30,000 losses. Of which I contributed $20,000 of capital. But because of my ownership percentages. The losses allocated to me on my K-1 is $9,000. How do I claim the rest of my $11,000 losses? Or is that unclaimable?

The LLC will be shut down this year. I will be getting a final K-1 next year.

Many Thanks!

[dodgers90210]

Your contribution is all you can claim because that's your basis in the llc....you can't claim anything in excess.

[VictorW9]

Well, practically you can only get back what you have in your capital account balance after all the liabilities of the partnership are paid. Your capital accounts will be more or less than the $11,000. You should have been keeping track of your capital accounts balance in the partnership.