My K1 (Form 1065) only has line 8 - Net short-term capital gain (loss): $-102.
There is a K3 attached.
Part II - Section 1 [Gross Income] is all blank, there is just a $0 on line 24 column (g) Total.
Part II - Section 2 - [Deductions] has $102 on line 27 [Net short-term capital loss] in column (c) Passive category income
Part II - Section 2 - [Deductions] has $102 on line 54 [Total Deductions] in column (c) Passive category income
After entering it into TurboTax, I get this error:
Sch K-1 Wks-Partnerships (XYZ FUND NAME): Deductions - Passive Category (Line M) is entered but no foreign source income for passive category has been entered (line M). Enter the income on Lime M or remove the deduction.
Not sure how to fix this, there is no income to enter, only a capital loss.
