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Investors & landlords
Your capital contributed during the year in section L of the Schedule K-1 increases the cost basis of your share in the LLC/partnership, but does NOT offset your income reported on the K-1. You just have to enter the K-1 in your return. Your capital contribution is not entered anywhere else on your tax return.
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‎June 3, 2019
11:44 AM
1,292 Views