Disposed of all shares of PTP/MLP in 2018. Received both a final K-1 (Form 1065) and a 1099B. Manipulated the basis to properly reflect the capital gains and ordinary income related to the sale on Form 4797 and Schedule D. Had a loss carry forward from 2017. 2018 capital losses are less than $1,700 including the carry forward. Why does TT show a loss carry forward to 2019?
Is there a workaround?
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When going through the interview, you have to select "This partnership ended..." and "Complete disposition". That will trigger TT to release all passive losses.
When going through the interview, you have to select "This partnership ended..." and "Complete disposition". That will trigger TT to release all passive losses.
As a follow-on to the original questioner, does saying "the partnership ended" have the same meaning as "I disposed of my entire partnership interest"? I find the wording confusing, as the PTP has not ended, it's just that I no longer own any of it.
The PTP may not have closed buy YOU disposed of your entire interest ... if you indicate this the loss will be released.
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