I did not have a Schedule L with my K-1. There is a SECTION L on my K-1 that I mentioned in my posts...but that is not what you mean?
I am thinking that the pertinent information from Schedule L is in the Section L, along with what was stated in the K-1 Footnotes.
As I noted in my original post:
The K-1 Footnotes states: this entity is a passive entity,
the partnership is NOT subject to the section 163(J) interest expense limitation rules,
section 199A - income is NOT considered qualified business income,
the ending capital account balance represents partner's final cumulative share of partner contributions/distributions plus allocated partnership income/loss through final operations.
Also, the Footnote states:
The Property distributions reflected in Box 19C represent the partner's share of syndication costs which are nondeductible to the partnership under IRC Section 709.
It also shows the following:
Interest Income: 11
Long-term capital gain (loss): -620
Schedule K-1 Income Subtotal: -609
Net Income (Loss) per Schedule K-1: -609
Does this give the necessary information needed to fill out the TT section?
Or do I still need to ask the partnership for more information?
