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How do you get (3,233) on Schedule K-1 (form 1065) section L. Line titled " current year increse (decrease). That is all I need. I already have all the rest of the forms filled out i just do not understand how they got that on Deannes K-1 Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $110,000 and Keon transferred an acre of undeveloped land to the partnership. The land had a tax basis of $70,000 and was appraised at $180,000. The land was also encumbered with a $70,000 nonrecourse mortgage for which no one was personally liable. All three partners agreed to split profits and losses equally. At the end of the first year, Blue Bell made a $7,000 principal payment on the mortgage. For the first year of operations, the partnership records disclosed the following information: Sales revenue $ 470,000 Cost of goods sold $ 410,000 Operating expenses $ 70,000 Long-term capital gains $ 2,400 1231 gains $ 900 Charitable contributions$ 300 Municipal bond interest $ 300 Salary paid as a guaranteed payment to Deanne (not included in expenses) $ 3,000 How do you get (3,233) on Schedule K-1 (form 1065) section L. Line titled " current year increse (decrease).

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