I am trying to figure out what to enter on form 8990. I have a K-1 with line 13 K of 75 dollars. Everything I have been able to find does not explain how to fill this out. I had a K-1 from last year and did not fill this out. I am an individual taxpayer with a K-1 from an investment in a PTP.
Section 1, Line 1-Is this this years 13 K amount?
Line 2- Is this the amount from last year?
Line 3- Have no idea
What is Tentative taxable income? Is this from my 1040 or the income from the K-1?
I don't think I need any entries for Adjusted Taxable Income.
Don't have any Business interest income.
When I fill this out the way it has been explained, Line 31 is -0-, which doesn't make sense to me in that the way I understand it, this should be carried forward until I can deduct it. Any help would be greatly appreciated.
