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Investors & landlords
This has some logic to it although for the pass-through entity the K-1 entries would have $0 capital contributed and -$7,XXX losses which in my mind raises the question of: how can you have losses from a business to which you contributed $0?
But I think the data in the capital contributed is ultimately not used at all by turbotax, or at least that's my impression because I was looking at the form 8995-a that they generate and the amount of capital contributed doesn't show up anywhere as far as I can tell so perhaps it doesn't even matter what I put there...
‎April 11, 2021
11:55 AM