any unused losses can be taken when a partnership folds PROVIDED you have a tax basis for the loss.
you may have invested $50K originally but that's not your tax basis any longer. starting with a tax basis of the 50K you invested, the tax basis goes up by items of income and down by items of loss, deductions, credits, and distribution. some partnerships will supply their partners with a schedule showing the partner's tax basis others do not. so if your partnership does not supply you with this info, you'll need all prior year k-1s to determine your final tax basis. you'll have a taxable gain or loss to report if the liquidating distribution is more or less than your tax basis.
I'm guessing but if you are going to get back $100K that's because the partnership sold assets that resulted in a gain that will show up on the final k-1. so your basis will go up by that gain and also be affected by other items on the k-1.
depending on when the partnership began, a portion of what you paid for your interest was to cover syndication fees. those fees were not deductible nor amortizable nor could they be written off for tax purposes when the partnership folds. so you may have some unrecovered tax basis at the end. if so that's a capital loss.
there may be enough $$$$ involved to be worth your while to have a pro go over the final year reporting.
