Well I understand it now. In my case, the K-1 Box 1 was blank, but I had to select it anyway in TT and then just leave it blank - then you can say No to materia...
Thankyou guys - I think I'm getting it now. I need to calculate my Basis Limitation and my At Risk Limitation. I can deduct the lower of the two. Both calcs are...
Sorry for the confusion - should I start a new thread?(if I can continue in this thread, how/where do I see the $150k carryforward in TT due to the basis limita...
Yes I invested $100k in the partnership and had $250k nonpassive losses, so I could only deduct $100k this year (limited by my invested amount). So I would like...