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I was in a partnership that I exited in '24. I have suspended losses from previous tax years, how do I get turbo tax to release the suspended losses from previous years?

The suspended losses are in multiple categories, Ordinary loss, Section 179 and Unreimbursed expenses
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1 Reply
RobertB4444
Expert Alumni

I was in a partnership that I exited in '24. I have suspended losses from previous tax years, how do I get turbo tax to release the suspended losses from previous years?

When you enter the K1 for your partnership indicate that this is a final K1.  That should cause all suspended losses generated by the partnership to be used.

 

@franksterner 

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