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wu1667wu
Returning Member

I deleted a k-1 in error. Partnership ended 2016. There were carryover losses. Must I recover it?

 
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2 Replies
AmandaR1
New Member

I deleted a k-1 in error. Partnership ended 2016. There were carryover losses. Must I recover it?

No, you need to enter your passive losses by looking at your 2016 tax return. You will find carryover losses on a different forms, depending on the type of activity. Refer to:

  • Form 8528 for passive activity losses 
  • Schedule D for asset and investment sale carryovers
BigDonS
Returning Member

I deleted a k-1 in error. Partnership ended 2016. There were carryover losses. Must I recover it?

I believe it is Form 8582 not 8528 that you should refer to.  You can also have passive activity losses coming from Schedule E.  I found a summary of the prior year Unallowed Losses for the various categories and AMT listed on the "Publicly Traded Partnership Worksheet" in the Keep for your records data.  So you should look for that.  I didn't find anything in the "Federal Carryover Worksheet" in the Keep for your records data pertaining to the Unallowed Losses.  Now I need to figure out where and how to enter into the 2017 return.  I think I need to enter these losses in F8582 worksheets 1-6 but I don't think Open Forms is going to allow that.  Then what??

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