I'm filing taxes for my partnership (LLC managing-member) which closed down in 2015. We ended up with a final balance of $0 in the bank account and no other assets or liabilities.

My 'partner's capital account' from the end of 2014 was $1300 and is 0 at the end of 2015 (I presume). Our business had a net loss for 2015. My share of the loss was about $5000 from the K-1.

Am I allowed to take up to $1300 of that loss on my 1040? Or higher/lower? Thanks for your help.