CHASSOCIATES
Level 2

Thank you for your prompt response, you are absolutely right. This is the K1 information

 Part II Loans from shareholder Beginning of the year  $3473

end of the year $3473

Ln 1 ordinary business income $62,500,

 Ln 4 interest income $1,735

Ln 12 A Other deduction cash contribution $49

Ln 16 B Other tax-exempt income $525,329

Ln16 C Other tax-exempt income 2,375.

Ln16D Distribution $331,196.

Ln 17 A Investment income $1,735

Ln17V Section 199A information $62,500

total Loss and deductions applied against stock basis $90,365.

the loss was carryforward from 2019 was $87,941

Suspended Losses $86,811 (2019)

 

 

 

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