How to Read a Syndication K-1

[Ariel K.]

This is my first time investing in a syndication and I received a K-1.  Box 19A had 'distributions' and there was a capital loss as well in box 1.  My understanding is that I shouldn't pay any taxes on the distributions until the syndication closes, but I'm not sure if that's correct.  My other question is how is the Box 19A income taxed?  Ordinary income?  LT capital gains?  How would I know?  Are there any other resources that I can use to learn how to read K-1s?  

Thanks in advance!

[Lance Lvovsky]

@Ariel K.

As Michael said reading K-1s are not easy. Further, one must read footnotes and statements that go with the K-1s to fully understand tax reporting requirements.