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J
jgcpa
Level 5
September 5, 2020
Question

Section 987 Loss reported by Blackstone on k-1

  • September 5, 2020
  • 3 replies
  • 18 views

Please let me know where to report section 987 loss ? The k-1 instructions do not mention this loss. I believe it involves a ordinary loss from currency exchange.

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3 replies

sjrcpa
sjrcpa
Level 15
September 5, 2020

Sch E page 2 sounds reasonable. How much can it be? My guy has a 1 loss.

The more I know the more I don’t know.
    J
    jgcpaAuthor
    Level 5
    September 5, 2020

    if this is ordinary, then the instructions say Form 4797. If I confirm it is ordinary loss, I can enter in PS on the section line for ordinary loss and let PS do its magic.

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