Thank you so much for the fast response!
Just to clarify, I should go ahead and report the K-1 on my taxes this year, and do I report this same amount next year, and the year after, etc, until I've exhausted the total $24,475? Also, am I understanding this correctly - even though I'm adding it on this year's tax return and a $3000 deduction was applied, since I had no taxable income, then none of the $24,475 was used?
Thanks again for everything.
