I have a new K-1 and K-3 (no prior years) for an investment into an Oil & Gas company. Reading through other posts doesn't seem to answer my challenge. On the K-1 what do I do with the info in Part II letter J, K and L?
On the K-3, I only have info in Part III section 2.
Line 1 column "(a) U.S. source" has a dollar amount and totaled in column (g)
Line 6a column "(a) U.S. source" has the same dollar amount and totaled in column (g)
Additionally there is a "Partner Basis Worksheet" that has dollar amounts for contribution amount, adjusted Basis and $0 End of Year Carryover. Not sure if I need to enter this or if it's more for informational purposes.
Any Help greatly appreciated.
-Phil
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