Additional questions:
1) Your K-1 section L. What box is checked?
2) When you invested the $45,000, was this all cash or did you contributed property where FMV was not equal to your adjusted basis?
3) Since you indicate you were a silent member, I assume you still have approximately $4,000 in suspended passive activity losses going into 2016?
4) Anything reported on line 19 of your K-1?
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
