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Hi, All:
Thank you so much for the answers.
I will discuss the interest and capital gains he put in my K-1 forms, he should at least distribute some money to me to cover the tax I've paid all these years.
I do find my Section L has 'tax basis' checked, with 'Ending capital account' value: 9000$, I guess it means if I dispose this investment totally, I mean just give up this investment so I will never receive K-1 in future, my capital loss will be '9000$', am I right?
It is a really a good lesson learned here.
Erika
Thank you so much for the answers.
I will discuss the interest and capital gains he put in my K-1 forms, he should at least distribute some money to me to cover the tax I've paid all these years.
I do find my Section L has 'tax basis' checked, with 'Ending capital account' value: 9000$, I guess it means if I dispose this investment totally, I mean just give up this investment so I will never receive K-1 in future, my capital loss will be '9000$', am I right?
It is a really a good lesson learned here.
Erika
‎June 7, 2019
5:40 PM