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Business & farm
Thanks for the quick response! This is the first time I have closed out a K1. Here are answers, as best I can give them:
1) No - but I know the original investment and I have all the K1s. I presume that is what is tracked in section L of the K1. I also have the annual accounting statements, somewhere, on file. I think.
2) GAAP
3) Positive. Beginning capital = 3080. Current year increase -3007 Withdrawal/Distrib -73 (that was the final distribution) Ending capital 0
4) No suspended losses.
5) box 19, code A is the $73 final distribution.
Thanks in advance for the help. If it's no go so be it.
Steve
1) No - but I know the original investment and I have all the K1s. I presume that is what is tracked in section L of the K1. I also have the annual accounting statements, somewhere, on file. I think.
2) GAAP
3) Positive. Beginning capital = 3080. Current year increase -3007 Withdrawal/Distrib -73 (that was the final distribution) Ending capital 0
4) No suspended losses.
5) box 19, code A is the $73 final distribution.
Thanks in advance for the help. If it's no go so be it.
Steve
‎June 4, 2019
8:15 PM