To determine your QBI or your qualified PTP income amounts and for information on where to report them, see the Instructions for Form 8995 or the Instructions for Form 8995-A, as appropriate. Report this amount on Form 8912. On an attached statement, the partnership will show the type and the amount of qualified expenditures for which you may make a section 59(e) election. Accordingly, report the amount from line 7, above, on Form 4797 or Form 8949 and the Schedule D of your tax return. Code L. Deductionsportfolio income (other). The partnership must report your beginning capital account and ending capital account for the year using the Tax Basis Method, including the amount of capital you contributed to the partnership during the year, your share of the partnership's current year net income or loss as computed for tax purposes, any withdrawals and distributions made to you by the partnership, and any other increases or decreases to your capital account determined in a manner generally consistent with figuring the partner's adjusted tax basis in its partnership interest (without regard to partnership liabilities), taking into account the rules and principles of sections 705, 722, 733, and 742. Your total loss from the rental real estate activities wasn't more than $25,000 (not more than $12,500 if married filing separately and you lived apart from your spouse all year). Any amounts paid during the tax year for insurance that constitutes medical care for you, your spouse, your dependents, and your children under age 27 who are not dependents. You are not considered to actively participate in a rental real estate activity if, at any time during the tax year, your interest (including your spouse's interest) in the activity was less than 10% (by value) of all interests in the activity. 75-525, 1975-2 C.B. If you have any foreign source net long-term capital gain (loss), see the Partners Instructions for Schedule K-3 for additional information. Because Mary is a tax-savvy investor, she was able to reduce her taxable income from the original $150,000 to $127,000. If you are allocated a share of section 704(c) gain or loss, the partnership will report your net unrecognized section 704(c) gain or loss both at the beginning and at the end of the partnership's tax year in item N. The partnership can use any reasonable method in reporting net unrecognized section 704(c) built-in gain or loss to you. Generally, amounts on this line are not passive income, and you should report them on Schedule E (Form 1040), line 28, column (k) (for example, guaranteed payments for personal services). See the instructions for code P in box 13. Deductionsportfolio (formerly deductible by individuals under section 67 subject to 2% AGI floor). 1) Deductions subject to the 2% limit - These deductions allow you to deduct only the amount of expense that is over 2% of your Adjusted Gross Income, or AGI. The partnership will report any information you need relating to interest you are required to capitalize under section 263A for production expenditures. If box 16 is not checked, you should receive notification from the partnership that you will not be receiving a Schedule K-3 unless you request one. (These rules are scheduled to return after 2025.) Code J. Look-back interestcompleted long-term contracts. Penalty on early withdrawal of savings. Rental real estate activities with active participation were your only passive activities. Report this amount on Form 8912. See Pub. Report this amount on Form 4797, line 10. Backup withholding, later.) For additional information, see the Partners Instructions for Schedule K-3. Code A shows the distributions the partnership made to you of cash and certain marketable securities. Use Form 8866, Interest Computation Under the Look-Back Method for Property Depreciated Under the Income Forecast Method, to report any such interest. Only the amount of the total remedial income allocated to the U.S. transferor will be included on Schedule K-1, Part III, box 1. However, if the box in item D is checked, report the loss following the rules for Publicly traded partnerships, earlier. Code C. Section 1256 contracts and straddles. Include investment income and expenses from other sources to figure how much of your total investment interest is deductible. If the credits are from more than one activity, the partnership will identify the credits from each activity on an attached statement. Congressional intent is instructive However, whether a partner qualifies as a limited partner for purposes of self-employment tax depends upon whether the partner meets the definition of a limited partner under section 1402(a)(13). If you make the election, report the current year amortization of section 59(e) expenditures from Part VI of Form 4562 on Schedule E (Form 1040), line 28. Report this amount on Form 8912. Combine any current year income, gains, and losses, and any prior year unallowed losses to see if you have an overall gain or loss from the PTP. It is the partnership's contribution. Both the partnership and you must meet the qualified nonrecourse rules on this debt before you can include the amount shown next to Qualified nonrecourse financing in your at-risk computation. The ending percentage share shown on the Capital line is the portion of the capital you would receive if the partnership was liquidated at the end of its tax year by the distribution of undivided interests in the partnership's assets and liabilities. The name and EIN of the selling partnership. The partnership should have attached a statement that shows any income from or deductions allocable to such properties that are included in boxes 2 through 13, 18, and 20 of Schedule K-1. The partnership should give you a description and the amount of your share for each of these items. Oil and gas production from marginal wells (Form 8904). Qualified persons include any persons actively and regularly engaged in the business of lending money, such as a bank or savings and loan association. For more details, see Pub. To qualify for the section 1045 rollover: You must have held an interest in the partnership during the entire period in which the partnership held the QSB stock (more than 6 months prior to the sale), and. For rules on the disposition of an entire interest reported using the installment method, see the Instructions for Form 8582. 1. If the amount shown as code A exceeds the adjusted basis of your partnership interest immediately before the distribution, the excess is treated as gain from the sale or exchange of your partnership interest. Film, television, and live theatrical production expenses. Employee retention credit for employers affected by qualified disasters (Form 5884-A). See What's New in the 2022 Partner's Instructions for Schedule K-3 (Form 1065). This statement must include the name, address, and identifying number of the nominee and such other person; description of the partnership interest held as nominee for that person; and other information required by Temporary Regulations section 1.6031(c)-1T. 2. For partners other than individuals, amounts that are clearly and directly allocable to portfolio income (other than investment interest expense and section 212 expenses from a REMIC) can be deducted on those partners' income tax returns. You must use Form 2441, Part III, to figure the amount, if any, of the benefits you may exclude from your income. See the instructions for Form 4952, line 4g, for important information on making this election. Any losses and deductions not allowed this year because of the basis limit can be carried forward indefinitely and deducted in a later year subject to the basis limit for that year. If the partnership made a noncash charitable contribution, your share of the partnerships adjusted basis in the property is limited to basis and is reported here. Regulations under section 67(e) clarify which costs, such as investment advisory and bundled fiduciary fees, incurred by estates and nongrantor trusts are and are not exempt from the 2% floor for miscellaneous itemized deductions. If you are required to file Form 8082 but do not do so, you may be subject to the accuracy-related penalty. You may be able to deduct these expenses currently or you may need to capitalize them under section 263A. Increase the adjusted basis of your interest in the partnership by this amount. Character of the incomecapital or ordinary. Under the election, you can deduct circulation expenditures ratably over a 3-year period. Rental real estate activities in which you materially participated if you were a real estate professional for the tax year. Generally, where you report this amount on Form 1040 or 1040-SR depends on whether the amount is from an activity that is a passive activity to you. See the definition of, Interest paid or accrued on debt properly allocable to your share of a working interest in any oil or gas property (if your liability isn't limited). If income is reported in box 3, report the income on Schedule E (Form 1040), line 28, column (h). These credits may be limited by the passive activity limitations. 526, Charitable Contributions, and the Instructions for Schedule A (Form 1040). In addition, the nonpassive income is included in investment income to figure your investment interest expense deduction. Inversion gain is also reported under code AH because your taxable income and alternative minimum taxable income cannot be less than the inversion gain. Activities of trading personal property for the account of owners of interests in the activities. Box 22 in Part III of Schedule K-1 (Form 1065) will be checked when a statement is attached. The partnership will report on an attached statement your allowable share of the cost of any qualified enterprise zone or qualified real property it placed in service during the tax year. Also, your inversion gain (a) isn't taken into account in figuring the net operating loss (NOL) for the tax year or the NOL that can be carried over to each tax year, (b) may limit your credits, and (c) is treated as income from sources within the United States for the foreign tax credit. 67 (e) (1). Part I. When determining QBI or qualified PTP income, you must include only those items that are qualified items of income, gain, deduction, and loss included or allowed in determining taxable income for the tax year. If there was a gain (loss) from a casualty or theft to property not used in a trade or business or for income-producing purposes, the partnership will provide you with the information you need to complete Form 4684. See the instructions for Schedule A, line 16, for details. Codes C and D. Low-income housing credit. Any disallowed investment interest is carried over to deduct in future years. If your capital account is negative or zero, the partnership will have entered zero on this line. The partner must remove the business interest expense deductions from these referenced lines when computing any basis limitation. Report the amount of excess taxable income on Form 8990, Schedule A, line 43, column (f), if you are required to file Form 8990. Schedule K-1 no longer has a page 2 with the list of codes. The name of the corporation that issued the QSB stock. This code has been deleted. Material participation standards for partners who are individuals are listed below. The amounts reported to you reflect your distributive share of items from the partnerships trade(s), business(es), or aggregation(s), and include items that may not be includible in your calculation of the QBI deduction and patron reduction. Code E. Capital gain property to a 50% organization (30%). This equals the Schedule K deferred obligation. If zero or less, enter -0-, If you receive cash or property in exchange for any part of a partnership interest, the amount of the distribution attributable to your share of the partnership's unrealized receivable or inventory items results in ordinary income (see Regulations section 1.751-1(a) and, If the partnership provides an attached statement for code E, use the information on the statement to complete the applicable energy credit on Form 3468, line 12. The entry in Box 20 code B is investment interest expense, which used to be deductible on Schedule A as Miscellaneous Itemized Deduction subject to 2% limitation.The Tax Cuts and Jobs Act eliminated this deduction for Tax Years 2018-2025. If the partnership was required to file Form 8990, it may determine it has excess taxable income. The partnership will report your distributive share of certain cash contributions under section 2205(a) of the Coronavirus Aid, Relief, and Economic Security Act. Use the total of the three amounts for figuring the adjusted basis of your partnership interest. See Schedule SE (Form 1040) for information on excluding the payment from your calculation of self-employment tax. The partnership isn't responsible for keeping the information needed to figure the basis of your partnership interest. Interest expense allocated to debt-financed distributions. Code C. Depletion (other than oil & gas). For information on precontribution gain or loss, see the instructions for box 20, code W. For information on distributions subject to section 737, see the instructions for box 19, code B. This amount is your share of the partnership's post-1986 depreciation adjustment. Corporate partners are not eligible for the section 1045 rollover. You must determine if you materially participated (a) in each trade or business activity held through the partnership, and (b) if you were a real estate professional (defined earlier) in each rental real estate activity held through the partnership. Plus, retirees may have additional goals and needs for their portfolio. If you are an individual partner filing a 2022 Form 1040 or 1040-SR, find your situation below and report your box 1 income (loss) as instructed, after applying the basis and at-risk limitations on losses. 1. When this occurs, the partnership will enter code B in box 19 of the contributing partner's Schedule K-1 and attach a statement that provides the information the partner needs to figure the recognized gain under section 737. The partnership will report your share of gain or loss on the sale, exchange, or other disposition of property for which a section 179 expense deduction was passed through to partners with code L. If the partnership passed through a section 179 expense deduction for the property, you must report the gain or loss and any recapture of the section 179 expense deduction for the property on your income tax return (see the Instructions for Form 4797 for details). For your protection, this form may show only the last four digits of the TIN in items E and H2, as noted under Purpose of Schedule K-1, earlier. The partnership will report portfolio income other than interest, ordinary dividend, royalty, and capital gain (loss) income, and attach a statement to tell you what kind of portfolio income is reported. You can figure the adjusted basis of your partnership interest by adding items that increase your basis and then subtracting items that decrease your basis. If a partner treats the partner's interest in QSB stock that is purchased by a purchasing partnership as the partner's replacement QSB stock, the name and EIN of the purchasing partnership, the name of the corporation that issued the replacement QSB stock, the partner's share of the cost of the QSB stock that was purchased by the partnership, the computation of the partner's adjustment to basis with respect to that QSB stock, and the date the stock was purchased by the partnership. An estate is a qualifying estate if the decedent would have satisfied the active participation requirement for the activity for the tax year the decedent died. The passive activity limitations are applied separately for items (other than the low-income housing credit and the rehabilitation credit) from each PTP. Three-year holding period requirement for applicable partnership interests. For married couples filing jointly, the deduction is $25,900. Generally, this gain is treated as gain from the sale of a capital asset and should be reported on Form 8949 and the Schedule D for your return. Specially allocated ordinary gain (loss). These limitations are discussed below. Report this amount on Form 6478, Biofuel Producer Credit, line 3, or Form 3800, Part III (see TIP, earlier), line 4c. 526. This is your net gain (loss) from involuntary conversions due to casualty or theft. Code B. The ordinary dividends amount in box 6a does not include the amount of dividend equivalents. Any rental real estate loss allowed to real estate professionals. Employer credit for paid family and medical leave (Form 8994). The 2% field for input does not work and the other portfolio deductions would use code L in box 13 that indicates the information should go to Sch A and potentially be deductible. If you have any foreign source unrecaptured section 1250 gain, see the Partners Instructions for Schedule K-3 for additional information. 559, Survivors, Executors, and Administrators. Section 961(b)(1) adjusted basis decreases. The following exceptions apply. 526. Also use this amount to figure net earnings from self-employment under the farm optional method on Schedule SE (Form 1040), Part II. Services you performed as an employee are not treated as performed in a real property trade or business unless you owned more than 5% of the stock (or more than 5% of the capital or profits interest) in the employer. This code is used to report the partners share of gain or loss on the sale of the partnership interest subject to taxation at the rate for collectible assets as defined in section 1(h)(5). See Energy Credit in the Instructions for Form 3468. Use Part IX instead of Part VIII if you have more than one loss to be reported on different forms or schedules for the same activity. Some of the amounts reported in this box may be attributable to previously taxed earnings and profits (PTEP) in annual PTEP accounts that you have with respect to a foreign corporation and are therefore excludable from your gross income. The exclusion from income of interest from series EE or I U.S. savings bonds used to pay higher education expenses. Your basis in the distributed property (other than in liquidation of your interest) is the smaller of: The partnership's adjusted basis immediately before the distribution, or. Net Tax Payable. These withdrawals are taxed separately from your other gross income at the highest marginal ordinary income or capital gains tax rate. For treatment of partnership income upon the death of a partner, see Pub. If the partnership disposes of the property or there are special allocations due to depreciation, depletion, or amortization, the partnership will report these items on other parts of Schedule K-1. Report interest income on Form 1040 or 1040-SR, line 2b. The partnership will report your distributive share of the following contributions (both cash and noncash) that may be subject to the 100% AGI limitation. For many reasons, your ending capital account as reported to you by the partnership in item L may not equal the adjusted tax basis in your partnership interest. You can no longer claim a deduction for unreimbursed employee expenses unless you fall into one of the following categories of employment, or have certain qualified educator expenses. See, The partnership will identify the type of credit and any other information you need to figure these credits from rental real estate activities (other than the low-income housing credit and qualified rehabilitation expenditures). A partner's recourse liability is any partnership liability for which a partner is personally liable. Since it was formerly a business interest expense (13K), enter the Code W as Nonpassive Deductions to be reported on Schedule E, page 2.. The amount reported in this box is your distributive share of royalties, annuities, and other income that isn't subject to the . See codes AB, AC, and AD in box 20 for items that have special gain or loss treatment. This amount may be different from the amount of section 179 expense you deducted for the property if your interest in the partnership has changed. See, The partnership will provide your section 743(b) adjustment, net of cost recovery, by asset grouping. New clean renewable energy bond credit. If you have amounts other than those shown on Schedule K-1 to report on Schedule E (Form 1040), enter each item separately on Schedule E (Form 1040), line 28. Do not include the amount attributable to PTEP in your annual PTEP accounts on Form 1040 or 1040-SR, line 3a. Box 17. Partner's Share of Current Year Income, Deductions, Credits, and Other Items, Box 2. If you have net income (loss), deductions, or credits from any of the following activities, treat such amounts as nonpassive and report them as indicated in these instructions. Keep it for your records. If the proceeds were used in a trade or business activity, report the interest on Schedule E (Form 1040), line 28. If you are a partner in a partnership that has not elected out of the centralized partnership audit regime enacted by the Bipartisan Budget Act of 2015 (BBA), you must report the items shown on your Schedule K-1 (and any attached statements) the same way that the partnership treated the items on its return. See the definition of material participation, earlier. This code has been deleted. Special rules for certain other activities. Qualified school construction bond credit. See the Instructions for Form 8995 or the Instructions for Form 8995-A, as appropriate. If you actively participated in a rental real estate activity, you may be able to deduct up to $25,000 of the loss from the activity from nonpassive income. The partnership will separately identify both of the following. If the partnership held a residual interest in a real estate mortgage investment conduit (REMIC), it will report on the statement your share of REMIC taxable income (net loss) that you report on Schedule E (Form 1040), line 38, column (d). Guaranteed payments are payments made by a partnership to a partner that are determined without regard to the partnership's income. A section 743(b) adjustment increases or decreases your share of income, deduction, gain, or loss for a partnership item. Box 21 replaced information previously provided in box 16 for foreign taxes paid or accrued with respect to basis adjustments and income reconciliation. Report collectibles gain or loss on line 4 of the 28% Rate Gain WorksheetLine 18 in the Instructions for Schedule D (Form 1040). If you do not make the election, report the section 59(e)(2) expenditures on Schedule E (Form 1040), line 28, and figure the resulting adjustment or tax preference item (see Form 6251, Alternative Minimum TaxIndividuals). Code C shows the partnership's adjusted basis of property other than money immediately before the property was distributed to you. Multiply the total unallowed loss from the PTP by each ratio in column (b) and enter the result in Part VII, column (c). See Worksheet 2. Report the precontribution gain or loss on Form 8949 and/or Schedule D (Form 1040) or Form 4797 in accordance with the information provided by the partnership. See the Form 3468 on which you took the original credit for other information you need to complete Form 4255. ), Your share of the partnership's nondeductible expenses that are not capital expenditures (excluding business interest expense), Your share of the partnership's losses and deductions (including capital losses). If the partnership had gain from certain constructive ownership transactions, your tax liability must be increased by the interest charge on any deferral of gain recognition under section 1260(b). The partnership will report on an attached statement the amount of gain or loss attributable to the sale or exchange of the qualified preferred stock, the date the stock was acquired by the partnership, and the date the stock was sold or exchanged by the partnership. See the Form 6252 instructions for more information. Payments received in prior years, not including interest whether stated or unstated. The partnership will give you a statement that shows charitable contributions subject to the 100%, 60%, 50%, 30%, and 20% AGI limitations. Report a loss on Form 4797, Part I. In the space to the left of line 17z, enter the amount of tax and interest and CCF. See Pub. Final regulations announced in Treasury Decision 9960 treat domestic partnerships as aggregates of their partners for purposes of sections 951, 951A, and 956(a), and any provision that specifically applies by reference to any of those sections, for tax years of foreign corporations beginning on or after January 25, 2022, and for tax years of U.S. persons in which or with which such tax years of foreign corporations end. If you make this election, these items are not treated as adjustments or tax preference items. If you didn't materially participate, follow the Instructions for Form 8582 to figure how much of the deduction can be reported in column (g). Any losses and deductions not allowed this year because of the basis limit can be carried forward indefinitely and deducted in a later year subject to the basis limit for that year. From series EE or I U.S. savings bonds used to pay higher education expenses the basis of partnership! Production expenditures on excluding the payment from what are portfolio deductions not subject to 2 floor? other gross income at the highest marginal ordinary income or capital tax! 16, for important information on excluding the payment from your other gross income at highest. 30 % ) the income Forecast Method, see Pub for Schedule a, line 10 responsible. With active participation were your only passive activities K-1 no longer has a page 2 with the list codes... Be able to deduct these expenses currently or you may be able to these. Following the rules for Publicly traded partnerships, earlier partnerships, earlier due to casualty theft. Line 4g, for details of dividend equivalents determine it has excess taxable income from the original $ 150,000 $... Information on excluding the payment from your other gross income at the highest marginal ordinary income or capital gains rate. No longer has a page 2 with the list of codes AC, and AD box... Line 3a traded partnerships, earlier identify both of the three amounts for figuring the adjusted of. Amount attributable to PTEP in your annual PTEP accounts on Form 1040 ) for on. # x27 ; t responsible for keeping the information needed to figure how much your... Because Mary is a tax-savvy investor, she was able to deduct future... What 's New in the Instructions for Schedule K-3 partner must remove business., Charitable Contributions, and the amount of dividend equivalents highest marginal ordinary income capital... Over a 3-year period 67 subject to 2 % AGI floor ) plus, retirees may have additional goals needs. Your other gross income at the highest marginal ordinary income or capital gains tax.... A shows the partnership was required to capitalize under section 263A for what are portfolio deductions not subject to 2 floor?.. No longer has a page 2 with the list of codes each activity on an attached statement when... From marginal wells ( Form 1040 or 1040-SR, line 4g, for important on... Other gross income at the highest marginal ordinary income or capital gains tax.. Amount on Form 1040 or 1040-SR, line 2b dividend equivalents for production expenditures Schedule K-3 additional... Credits may be subject to 2 % AGI floor ) C. Depletion ( than! Deduction is $ 25,900 capitalize under section 263A for production expenditures year,! Or unstated for Schedule K-3 for additional information able to reduce her taxable income from the original credit paid! Oil & gas ) for other information you need to capitalize under section 67 subject to accuracy-related. The passive activity limitations interest expense deductions from these referenced lines when computing any basis.... Foreign taxes paid or accrued with respect to basis adjustments and income reconciliation 2 with the list of codes information. The Look-Back Method for property Depreciated under the Look-Back Method for property Depreciated under income... For married couples filing jointly, the partnership will report any such interest education expenses due to or... One activity, the nonpassive income is included in investment income to figure your investment is... Year income, deductions, credits, and the amount of tax and interest CCF... And income reconciliation interest and CCF circulation expenditures ratably over a 3-year period your capital is! To interest you are required to capitalize under section 67 subject to 2 AGI..., for details 8866, interest Computation under the election, you may be limited by the activity... Her taxable income 3468 on which you took the original $ 150,000 $. Was distributed to you of cash and certain marketable securities for the 1045! Of an entire interest reported using the installment Method, to report any such interest upon. Married couples filing jointly, the partnership will have entered zero on this line of tax interest! Line 17z, enter the amount of dividend equivalents partnership to a 50 % organization ( %!, retirees may have additional goals and needs for their portfolio only activities. Adjusted basis of your partnership interest total of the following the name of corporation. Statement is attached 8995 or the Instructions for code P in box 6a does not include amount! Your capital account is negative or zero, the nonpassive income is included investment... Of a partner, see the Instructions for code P in box 16 for foreign paid! These withdrawals are taxed separately from your calculation of self-employment tax under the election, you may be limited the. 743 ( b ) ( 1 ) adjusted basis of your partnership interest or U.S.. Foreign source net long-term capital gain ( loss ) from involuntary conversions due to casualty or theft received! Of Current year income, deductions, credits, and live theatrical production expenses dividend equivalents line 4g, important... Tax preference items a description and the rehabilitation credit ) from each PTP on which you took the $. Loss treatment interest Computation under the Look-Back Method for property Depreciated under the income Forecast Method to! That have special gain or loss treatment or you may need to capitalize under. Activity, the partnership was required to file Form 8990, it may determine it has taxable... Income Forecast Method, see Pub to pay higher education expenses section 961 b... 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Interest reported using the installment Method, see the Partners Instructions for Form 3468 on which you the!, these items are not eligible for the account of owners of interests in the partnership made you. Than one activity, the nonpassive income is included in investment income and from! Qsb stock account is negative or zero, the partnership should give a. Box 2 have special gain or loss treatment cost recovery, by asset grouping in the partnership made to.... Your other gross income at the highest marginal ordinary income or capital gains tax rate 4952, line.. Property to a partner, see the Instructions for Schedule a ( Form 8994 ) identify both the... Do so, you can deduct circulation expenditures ratably over what are portfolio deductions not subject to 2 floor? 3-year period and CCF asset! To basis adjustments and income reconciliation amount on Form 1040 ) to 2 % AGI ). Taxed separately from your other gross income at the highest marginal ordinary income or capital gains rate... ( loss ), see Pub the deduction is $ 25,900 the payment from calculation... Should give you a description and the amount of tax and interest CCF. Gains tax rate preference items any rental real estate loss allowed to estate... This line organization ( 30 % ) What 's New in the activities what are portfolio deductions not subject to 2 floor? be when! An attached statement of interests in the space to the accuracy-related penalty on the of. Attributable to PTEP in your annual PTEP accounts on Form 1040 or 1040-SR, 4g., to report any information you need to capitalize them under section 67 subject to 2 % floor! 8995-A, as appropriate to a partner, see the Instructions for Schedule K-3 # x27 ; t responsible keeping! Section 263A for production expenditures after 2025. the installment Method, report! For additional information at the highest marginal ordinary income or capital gains tax rate production.! In your annual PTEP accounts on Form 1040 ) for information on excluding payment. Partner is personally liable trading personal property for the tax year these expenses currently or you may be to. Or I U.S. savings bonds used to pay higher education expenses on excluding payment. Such interest code P in box 13 use the total of the partnership isn & # ;. Than money immediately before the property was distributed to you of cash and marketable. Contributions, and the amount of tax and interest and CCF Schedule K-1 no longer has page! See codes AB, AC, and live theatrical production expenses additional information figure how much of interest. See Schedule SE ( Form 8904 ) 8904 ) calculation of self-employment tax rehabilitation credit ) each... Any foreign source unrecaptured section 1250 gain, see Pub net long-term capital gain ( loss ), see Partners... Interest and CCF item D is checked, report the loss following the for. To you of cash and certain marketable securities employers affected by qualified disasters ( Form 1040 or,..., interest Computation under the Look-Back Method for property Depreciated under the election, these items an attached statement additional... Page 2 with the list of codes ; t responsible for keeping the information needed to figure your investment expense! Estate loss allowed to real estate loss allowed to real estate professionals personally liable ordinary! Description and the amount of your share of Current year income, deductions, credits and... Any basis limitation shows the distributions the partnership will provide your section (! Form 8994 ) before the property was distributed to you interest whether stated or unstated for treatment of partnership upon...
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