Thanks, Mike. My letter says--among other things--the following:
"For the purposes of IRC Section 163(j), the IRC Section 199A, and IRC Section 461 (l), none of the distributive share of items included on your Schedule K-1 are related to a trade or business. Please Consult your tax advisor."
And:
"THE SCHEDULE K-1
The instructions contained in this document re designed to assist individual U.S. unit-holders with their U.S. income tax compliance and for general information; DBA (the ticker symbol for the fund) cannot advise you regarding your individual tax matters. The correctness of returns using these instructions is the responsibility of the unit-holders and their tax preparers. Unit-holders should consult their own advisors on all tax compliance matters. Due tot he complexity of tax laws and regulations, and investors' personal financial situations, these instructions may not be suitable in all situations."
And, regarding line 13w (in which I have the amount of 46 listed), the letter says:
"Portfolio Deductions - The Portfolio Deductions from investing activities, if any, are non-deductible for certain taxpayers, including individuals, and would reduce your tax basis in the partnership. Please consult your tax advisor."
I have amounts (in USD) and indications in Part III lines as follows:
Line 1 - 14
Line 3 - 15
Line 5 - 32
Line 6a - 44
Line 8 - 0
Line 9a - 0
Line 11 (with code "C") - 59
Line 13 (with code "H") - 0
Line 13 (with Code "W") - 46
Line 16 - box is checked, but K-3 not ready until June 2023
Line 19 (with Code "A") - 26
Line 20 (with Code "A") - 76
I've already filed, and to do so with TurboTax, I had to say that box 16 was "unchecked." Unless you see a situation here where I won't need to worry about it, I guess I'll need to download the Schedule K-3 when it is ready in June and file and amended return if needed. Thoughts? Continued thanks for your insights and expertise. Bruce
