I received a final K-1 on a real estate partnership and need to understand better how to enter the relevant numbers in TT. The K-1shows a net loss in box 2 of -2,034 and a Net section loss of -3,465. The Partner's Capital Account Analysis also shows a "Beginning capital account" of 13,868 and "Capital contributed during the year" of -8,370. When entering information into TuboTax Desktop, I tell TT this was a complete disposition and that this was a "Liquidated Partnership interest". It then asks me to put in the partnership basis. I do not have all of my K-1s going back to when I first joined this partnership so my first question is can I reasonably use the "Beginning Capital account amount" shown in box L of the final K-1 as the "partnership basis" or should I use the "Capital contributed during the year"? If I put the larger "Beginning Capital account" amount this seems to double count the net loss and next section amounts in the Total that appears in Section A of my resulting Schedule K-1 (form 1065) in TT. Basically, I lost quite a lot of money on this partnership and want to make sure I can fully claim the loss on my taxes but it's very unclear how to do this.
I have read a couple of other posts on final K-1s but did not see the information I need to resolve my question.
