Part II, Item L of 1065 K-1
Hello,
I have an individual client with a K-1 from a trader hedge fund. The K-1 reports some interest/dividends/capital gains. In the supporting footnotes, there's a section about net taxable loss, which I see is a reduction to the basis. Would this loss be deductible in the individual return as ordinary loss? Nothing was reported on box 1. Thanks!
