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Get your taxes done using TurboTax
At its simplest, prior year box 1 losses will have all been suspended, so the total would be the carryover. But MLP's are frequently not simple, and entries elsewhere on the K-1s could have affected the total carryover.
How have you been preparing your taxes in prior years? If you were using a tax preparer, they should be able to tell you the suspended losses from last year. If you were using TT, it would have accumulated all the losses and made sure the calculation was accurate.
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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!
March 11, 2023
8:33 PM