first, the capital a/c on the K-1 may not reflect your tax basis. you'll need to find out. the same holds true for the $37.000 (your own records should indicate if you put in that much). finally, why did you get nothing for your interest which apparently was worth $63,000? we can't see the partnership agreement. consider, that it will take you 21 years to take all of the capital loss if that's what it is. This assumes no net capital gains from other sources during that period.
