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posted Jun 1, 2019 12:47:14 PM

I rec. 2 Sch. K1s from stock I purchased for PTPs. My taxable income incr. by $1 and there was no change to refund amount. Do I need to amend?

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2 Replies
Level 15
Jun 1, 2019 12:47:14 PM

No you do not.

Level 9
Jun 1, 2019 12:47:16 PM

Generally, PTPs generate losses which are suspended until you sell.  In addition to updating your income, TT is also tracking those losses, and will automatically carry them over for you when you do next year's return.  Whether or not you amend your return, you definitely don't want to lose track of those losses.