EileenC Posted April 8, 2016 Report Posted April 8, 2016 Help! I have a client who invested $3000 in 2011 into an LLC partnership for 1.00% share. The company never made a profit. Each year he received K-1 with small losses, but still has a positive capital account ($1715). In 2015 the partnership dissolved and yesterday my client received a completely blank final K-1. How do I report the loss of his remaining capital account balance? Shouldn't his final K-1 show the remaining loss? The capital account section isn't even filled out. Quote
Lee B Posted April 8, 2016 Report Posted April 8, 2016 Wouldn't you just have a capital loss on Schedule D for the remaining basis ? 2 Quote
Terry D EA Posted April 8, 2016 Report Posted April 8, 2016 Agree with cbslee as this is a capital loss reported on Sch D Quote
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