Get your taxes done using TurboTax

hopefully, someone will correct me if I'm wrong, but I don't think I am. each PTP needs to be separately reported to each partner because the passive loss suspension/qbi/etc comes at the individual level not your LLC/partnership.  if you traded 100 PT's you will need to furnish each partner the reporting of their share of each PTP which means in their return they will have to enter 100 PTP K-1s. This comes from practical experience where a client invested in a master limited partnership (MLP) that only invested in PTPs they sent an aggregate k-1 which was marked do not use for tax purposes. behind that were 50 K-1s - one for each of the PTPs it invested in. Tax law say each PTP stands on its own. This necessitated entering the 50 k-1's in the taxpayer return.  Partial dispositions create some issues and it's easy to have unrecognized wash sales because the broker does not know the true tax basis to determine if the wash sale rules apply if you disposed of a PTP at a loss and 30 days before or after acquired a substantially identical PTP. you are on your own for determining wash sales.  

making things even more complicated is the capital gain/loss to report in the partnership return and to the partners. The broker's statement does not represent the correct tax basis because it does not account for partnership activity and any 751/ordinary income recapture.  the partnership needs to report the correct gain/loss on disposition to the partners and it's the partners who would then report any 751 gain for each partnership (usually the amount in box 20AB of the k-1.  this is important because if a PTP generated a loss the only way its freed up is upon complete disposition.  Turbotax recognizes this by the answer to the questions in the sale section of the K-1.

 

hope you filed your partnership return it was due 9/15 not 10/15  

 

i don't know if Turbotax business is capable of properly reporting your LLCs activity.