Form 8990

[Filenow]

I am trying to figure out what to enter on form 8990. I have a K-1 with line 13 K of 75 dollars. Everything I have been able to find does not explain how to fill this out. I had a K-1 from last year and did not fill this out. I am an individual taxpayer with a K-1 from an investment in a PTP.

Section 1, Line 1-Is this this years 13 K amount?

Line 2- Is this the amount from last year?

Line 3- Have no idea

What is Tentative taxable income? Is this from my 1040 or the income from the K-1?

I don't think I need any entries for Adjusted Taxable Income.

Don't have any Business interest income.

When I fill this out the way it has been explained, Line 31 is -0-, which doesn't make sense to me in that the way I understand it, this should be carried forward until I can deduct it. Any help would be greatly appreciated.

[Mike9241]

turbotax does not support form 8990. so the form will need to be done manually

use schedule A

the $75 would go on 8990 column  c

20AE would report excess taxable income which goes on form 8990 column f

20AF would report excess business income which goes on form 8990 column g

https://www.irs.gov/pub/irs-pdf/i8990.pdf 

read the instructions for the form 

[Filenow]

Hello, and thank you for the response. Does the amount from last year go in column d? And does anything go in column h or i?