I got a K1 for an investment in a ETF called UNG. They have a website that tells you what to put where on your tax return.
On the K1 line 1 (ordinary business income) there is a loss of $358. On Line 11 (other income) code F there is a loss of $1,285.
They say to enter -1643 on Schedule E Line 28(h)A; (non-passive loss from Schedule K-1)
When I do that TaxCut says I shouldn't be entering a negative number there, which makes sense because it says "loss". I am not sure it is even non-passive; isn't my investment passive?
So, should I be entering a positive number, a negative number, or nothing at all?
I called the number on their website and they tell me not to worry about it, as I should completely ignore the K1. So helpful.