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@Nothing_Certain My return shows the same thing. I haven't looked up the detailed IRS definitions, but suspect that the classification from passive to "non-passive" happens when the partnership ends and the losses are freed up to offset any other income you may have.
There are other cases, where you still own the MLP but have a legitimate reason to free up some of the passive losses, where Sched E will show those losses in col g.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎April 4, 2021
7:47 AM