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Zman
Level 1

Partnership ended, generating a loss in box 9a of the K-1. Should I report this loss again in the questionnaire for the disposal details (also part of the K-1 interview)?

 
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PatriciaV
Expert Alumni

Partnership ended, generating a loss in box 9a of the K-1. Should I report this loss again in the questionnaire for the disposal details (also part of the K-1 interview)?

No, the loss reported on Schedule K-1 is not your loss on the dissolution of the partnership. This is flow-through loss to the partners from partnership activity. 

 

If the partnership dissolved, you probably have zero sales proceeds to report for the disposal. This may result in either a gain or loss on your investment, depending on your ending adjusted basis.

 

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