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Get your taxes done using TurboTax
Thanks @Mike9241
I have tracked down all carry over looses.
I had ETP which was merged into ET. I did not add carry over losses of ETP into ET as it was not sale and K1 did not show Final K1 and I did not know at that time how to handle it.
I just left it there with TT and it is still there with all information and there is no new information added since merger as there was no K1 for ETP.
I tried 3 methods
Option 1
If I enter Final K1 for ETP and check Partnership end and disposition was NOT sale. It does NOT release carry over losses
Option 2
Check Final K1 for ETP and check complete disposition and use same sale dates as for ET ( since ETP was merged into ET), all losses are released and show up K1 work sheet, Sch E and 4797.
Q: Since ETP was ended while back, does its Partnership Tax ID still work or can cause issues or questions?
Option 3
I can add carry over losses from ETP into ET.
It works well for regular and AMT section within Forms mode of K1 but QBI section I was not able to make it work in the forms mode. or QBI section has to be changed/adjusted within interview mode?
Any thoughts which method to use?