- Joined
- Mar 18, 2012
- Messages
- 1
- Reaction score
- 0
This is the first year I have received a k-1 for powershares db commodity index
the part three information I understand and my tax software (drake) has posted it correctly. I am having trouble because apparently i sold some units and i lost money but i dont know how to enter it. it shows on a form they included called 2011 sales schedule. i guess i need to figure basis- which i understand but my software is adding that loss to the loss included on line 11c on the k-1. Is that correct? I thought as a limited partner i could not show losses each year even though I incurred them. line 11 c on the k-1 is a loss and my software is passing it to form 6781. Also the type of entity is an ira/sep/keogh- even though i am retired- do i get to show the losses?
the part three information I understand and my tax software (drake) has posted it correctly. I am having trouble because apparently i sold some units and i lost money but i dont know how to enter it. it shows on a form they included called 2011 sales schedule. i guess i need to figure basis- which i understand but my software is adding that loss to the loss included on line 11c on the k-1. Is that correct? I thought as a limited partner i could not show losses each year even though I incurred them. line 11 c on the k-1 is a loss and my software is passing it to form 6781. Also the type of entity is an ira/sep/keogh- even though i am retired- do i get to show the losses?