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K-1 from 1065


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52 minutes ago, sts said:

I have a K-1 with loss in box 1 of -159. it does not show up on sch E or 1040. partners capital account ending balance is $429.  where should I key in $429 as basis for loss to be deductable

Are you sure the partner's basis is the same as the capital account for this partner?  Many times it isn't.

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