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ReneeT1996
New Member

I received a final K1 for a LLC that was liquidated in 2016. I indicated this in Turbo tax. Is this considered a complete disposition or disposition not via sale?

 
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NancyG
New Member

I received a final K1 for a LLC that was liquidated in 2016. I indicated this in Turbo tax. Is this considered a complete disposition or disposition not via sale?

Complete disposition.

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2 Replies
NancyG
New Member

I received a final K1 for a LLC that was liquidated in 2016. I indicated this in Turbo tax. Is this considered a complete disposition or disposition not via sale?

Complete disposition.

cshenk21
Returning Member

I received a final K1 for a LLC that was liquidated in 2016. I indicated this in Turbo tax. Is this considered a complete disposition or disposition not via sale?

Partnership for restaurant went out of business year 2. Question #1 - So I enter this as a "Complete Dispostion" and then "Liquidated Partnership Interest" on next screen, correct? Question #2 - Can my losses be greater than my investment? K-1 has total losses from ordinary business income over the two years of the business' life totaling $34k ($19k carry forward from 2015 and $15k from final year 2016)  but I only invested 25K
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