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Level 3
posted Sep 21, 2024 7:26:00 PM

How to take the loss for syndication costs reported in a Final K-1 for a failed Limited Partnership.

I received a final K-1 as a limited domestic partner in a failed partnership I've held since 2011.  The final K-1 was very late and so I filed for an extension.  The total investment is a loss.  The final K-1 lists the total long term loss and also the syndication costs. The total of both equal my total investment.  How do I claim the syndication costs as a loss in my 2023 Turbotax Premier.   Can I use box 20 - B and list them as "Investment Expenses"?   This seems like an easy way to be able to write off my total investment.

 

Need to file my final return soon, so would appreciate a quick answer.

 

Thanks,

 

Veehb

0 2 33061
2 Replies
Level 15
Sep 21, 2024 9:45:28 PM

Level 15
Sep 22, 2024 12:48:55 AM