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Section 987 Loss reported by Blackstone on k-1

jgcpa
Level 4

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 Comments 3
sjrcpa
Level 15

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


Ex-AllStar
jgcpa
Level 4

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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jgcpa
Level 4

only $2 loss

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