Hi Amy -
Unfortunately this LLC did not provide a form K1, but just a statement of loss with supporting documents in a word file and details on my investment. Is this sufficient for me to fill in a schedule E, and if so, how do I fill in the schedule E for a limited partner (myself) that invested in this real estate fund without going through the K-1 form process?
Also, if one is filing MFJ, does the amount one can claim go up higher than $3000 against regular income in a given year? Is there any way to be able to claim MORE than 3k a year from a loss in an LLC investment as a limited partner against w-2 income? I do see in Schedule E part II there are boxes that say "passive income and loss" and "nonpassive income and loss". Wondering how I can claim the entire amount ~20k into the non passive bucket.
Thanks much!!
