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mc_1127
Level 2

I cannot get the Publicly traded partnership loss to be deducted. I checked that it is a disposition of the interest.

I have entered the sale gain and cost basis in the stock sales section I need to be report the loss on Schedule E from K-1 line 1
1 Reply
nexchap
Level 8

I cannot get the Publicly traded partnership loss to be deducted. I checked that it is a disposition of the interest.

In your question, you don't state whether this was a complete disposition (you sold all shares, and the K-1 you received has 'final k-1' checked), or just a partial sale.  If it was a partial sale, then you can only use losses to offset any gains from the same PTP -- everything else is suspended to future years.  That may be why you're not seeing everything you expect showing up on Sched E.

If it was a complete disposition, you need to check the box stating 'This partnership ended in 2016'.

Note that entering PTP sale information correctly in TurboTax is far more complicated than it should be, and simply following the interview is likely to create problems in your return that the TT error checking won't flag.  Here's a more detailed discussion of the problem in answer to a similar question:  https://ttlc.intuit.com/questions/3760966-how-i-report-the-sale-of-mlp-shares-in-turbo-tax-i-sold-al...

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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!

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