Re: Section 987 Loss reported by Blackstone on k-1

jgcpa · ‎09-05-2020

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.

sjrcpa · ‎09-05-2020

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.

jgcpa · ‎09-05-2020

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.

jgcpa · ‎09-05-2020

only $2 loss

Section 987 Loss reported by Blackstone on k-1

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