@JohnB5677 @Ryuichi1
I am running into the same thing only a year later/2023. Thanks for posting the discussion. I have a follow up question. The only difference I can determine between "no entry" and "complete disposition" is an unrelated person causing a fully taxable transaction.
My situation is similar to @Ryuichi1 , "The partnership venture was unsuccessful, ended without any payments and the whole investment was lost...".
However the outcome in turbo tax between "no entry" and "complete disposition" is huge. In turbo tax, "no entry" becomes a capital loss which is limited to $3,000 per year (assuming no other gains). However, "complete disposition" lets me take the entire loss against income.
My possible difference is I am a limited partner (own 1.3%), the partnership assets were leveraged and was eventually foreclosed on by the 1st lien lender causing a complete loss for all partners. Is there any consensus that being foreclosed on and the remaining partnership has zero assets is a "complete disposition" or is that considered a "no entry"?
